Universal Suffrage: Undeclared Conflict of Interest

63 Pages Posted: 12 Mar 2016 Last revised: 30 Sep 2018

See all articles by Konstantin Yanovskiy

Konstantin Yanovskiy

Shomron Center for Economic Policy Research

Sergei Zhavoronkov

Gaidar Institute for Economic Policy

Yehoshua Socol

Jerusalem College of Technology

Date Written: March 9, 2016

Abstract

Conflict of interest of welfare dependent voter creates wrong incentives. These incentives inherent to universal suffrage, yield consequences, as predicted by John Adams back in the 18-th century. Historically the rise of the modern welfare state might be traced to the emergence of mainstream left parties, which promoted government care “from the cradle to the grave”. This paper will address the damages to Democracy caused by conflict of interest, which led to irresponsible leadership and permanent peacetime budget deficit. Historical examples from the 1990s show possible escapes from the trap of universal suffrage.

Keywords: Universal Suffrage, Conflict of Interest, Left parties, Budget Deficit

JEL Classification: D72, D73, H62, N40

Suggested Citation

Yanovskiy, Konstantin (Moshe) and Zhavoronkov, Sergei and Socol, Yehoshua, Universal Suffrage: Undeclared Conflict of Interest (March 9, 2016). Available at SSRN: https://ssrn.com/abstract=2745294 or http://dx.doi.org/10.2139/ssrn.2745294

Konstantin (Moshe) Yanovskiy (Contact Author)

Shomron Center for Economic Policy Research ( email )

Kley Shir 8
Karney Shomron, 44855

Sergei Zhavoronkov

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Yehoshua Socol

Jerusalem College of Technology ( email )

Havaad haLeumi
Jerusalem, 4485500
Israel

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