Subjective Political Economy

  title={Subjective Political Economy},
  author={Darcy Allen and Chris Berg},
  • Darcy Allen, Chris Berg
  • Published 2016
  • Economics
  • 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… CONTINUE READING

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