Politics as exchange : an analysis of the political marketplace / Randall G. Holcombe.

Format:

Book

Author/Creator:

Holcombe, Randall G., author.

Series:

Cambridge studies in economics, choice, and society

Language:

English

Subjects (All):

Common good--Political aspects.

Common good.

Democracy--Moral and ethical aspects.

Democracy.

Elite (Social sciences)--Political activity.

Elite (Social sciences).

Political ethics.

Power (Social sciences)--Political aspects.

Power (Social sciences).

Physical Description:

1 online resource (xiii, 284 pages).

Place of Publication:

Cambridge, United Kingdom ; New York, NY : Cambridge University Press, 2026.

Summary:

"Political institutions have been depicted by academics as a marketplace where citizens transact with each other to accomplish collective ends difficult to accomplish otherwise. This depiction supports a romantic notion of democracy in which democratic governments are accountable to their citizens, and act in their best interests. In Politics as Exchange, Randall Holcombe explains why this view of democracy is too optimistic. He argues that while there is a political marketplace in which public policy is made, access to the political marketplace is limited to an elite few. A small group of well-connected individuals-legislators, lobbyists, agency heads, and others-negotiate to produce public policies with which the masses must comply. Examining the political transactions that determine policy, Holcombe discusses how political institutions, citizen mobility, and competition can limit the ability of elites to abuse their power"-- Cambridge University Press.

Contents:

The political marketplace

Market institutions

Transaction costs and institutions

The characteristics of authority

The ruling class

The institutional structure of the political marketplace

Political transactions

Interest groups: Elites and masses

Welfare maximization, redistribution, and governance

The scope of authority

Mobility and authority

Democracy and authority

Constraining leviathan: Competition among elites

Politics as exchange.

Notes:

Includes bibliographical references and index.

Online resource; title from PDF title page (Cambridge University Press, viewed November 10, 2025).

Other Format:

Print version: Holcombe, Randall G. Politics as exchange

ISBN:

9781009693950

1009693956

9781009693967

1009693964

OCLC:

1546773118

Publisher Number:

CIPO000293655

Access Restriction:

Restricted for use by site license