Constitutionalism, Liberalism, and Political Entrepreneurship

Advances in Austrian Economics, Forthcoming

28 Pages Posted: 23 Apr 2019 Last revised: 13 Apr 2020

See all articles by Alexander William Salter

Alexander William Salter

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

Date Written: April 11, 2020

Abstract

I criticize contractarian approaches to political economy that assume the insularity of constitutions from ordinary political exchange. Using tools from market process economics, I outline a theory of the political-entrepreneurial process as applied to constitutions. This theory can help us understand many aspects of real-world constitutional politics, such as the frequent divergence of de facto constitutions from their de jure specification. I also discuss how my proposed framework can help advance classically liberal political economy, with special reference to the conditions that allow societies to develop and retain liberal constitutions.

Keywords: Contractarianism, Constitution, Entrepreneurship, James Buchanan, Market Process Economics, Political Entrepreneurship

JEL Classification: B53, H11, K10, P16

Suggested Citation

Salter, Alexander William, Constitutionalism, Liberalism, and Political Entrepreneurship (April 11, 2020). Advances in Austrian Economics, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3358974 or http://dx.doi.org/10.2139/ssrn.3358974

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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