A Monarchical Perspective on Constitutional Governance: H.S.H. Prince Hans-Adam II of Liechtenstein and the State in the Third Millennium

Journal of Private Enterprise 30(1) 2015: 121-130

12 Pages Posted: 15 Feb 2014 Last revised: 1 Mar 2016

Alexander William Salter

Texas Tech University - Rawls College of Business; American Institute for Economic Research

Date Written: February 13, 2014

Abstract

This paper explores key ideas in constitutional political economy by analyzing the writings of H.S.H. Prince Hans-Adam II of Liechtenstein. As a hereditary head of state, His Highness has significant political power. However, the constitution and political institutions of Liechtenstein give each element of the government — the monarch, the parliament, and the people — checks on the ability of the others to behave arbitrarily. Through examining His Highness’s ideas on constitutional governance in his recent book, The State in the Third Millennium, this paper offers a new perspective on the balance of political power necessary to keep state activity within its appropriate bounds.

Keywords: Constitutional political economy, democracy, federalism, monarchy, H.S.H. Hans-Adam II, Liechtenstein, oligarchy, self-determination

JEL Classification: H10, H77, P16

Suggested Citation

Salter, Alexander William, A Monarchical Perspective on Constitutional Governance: H.S.H. Prince Hans-Adam II of Liechtenstein and the State in the Third Millennium (February 13, 2014). Journal of Private Enterprise 30(1) 2015: 121-130. Available at SSRN: https://ssrn.com/abstract=2395441

Alexander William Salter (Contact Author)

Texas Tech University - Rawls College of Business ( email )

Lubbock, TX 79409
United States

HOME PAGE: http://awsalter.com

American Institute for Economic Research

PO Box 1000
Great Barrington, MA 01230
United States

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