Subjective Political Economy

@article{Allen2016SubjectivePE,
  title={Subjective Political Economy},
  author={Darcy Allen and C. Berg},
  journal={New Institutional Economics eJournal},
  year={2016}
}
Ideas fit poorly into the economics of political systems. This paper provides a new, highly-adaptable framework for analysing the role of ideas in political change. Starting with Djankov et al’s (2003) institutional possibility frontier, in which institutional choice is depicted as a trade-off between disorder costs and dictatorship costs, we observe that costs are subjective to the political actor that perceives them. Long-run institutional changes can be seen as the result of perceived… Expand
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