Political Economy of Institutions and Decisions: Above Politics

By: Gary J. Miller and Andrew B. Whitford

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Synopsis: Economic development requires secure contract enforcement and stable property rights. Normal majority-rule politics, such as bargaining over distributive and monetary policies, generate instability and frequently undermine economic development. Above Politics argues that bureaucracies can contribute to stability and economic development, but only if they are insulated from unstable politics. A separation-of-powers stalemate creates the conditions for bureaucratic autonomy. But what keeps delegated bureaucrats from being more abusive as they become more autonomous? One answer is the negotiation of long-term, cooperative relationships - that (when successful) typically bind subordinates to provide more effort in exchange for autonomy. Even more compelling is professionalism, which embeds its professional practitioners in professional norms and culture, and incidentally mitigates corruption. Financial examples are provided throughout the book, which ends with an analysis of the role played by professionalized bureaucracies during the Great Recession.

Book Quality:: Publisher Quality
ISBN-13:: 9781316564080
Publisher:: Cambridge University Press
Date of Addition:: 09/16/16
Copyrighted By:: Gary J. Miller and Andrew B. Whitford
Adult content:: No
Language:: English
Has Image Descriptions:: No
Categories:: History, Nonfiction, Business and Finance, Philosophy, Politics and Government
Submitted By:: Bookshare Staff
Usage Restrictions:: This is a copyrighted book.