Black Hole Tariffs and Endogenous Policy Theory: Political Economy in General Equilibrium

Hardcover (Print)
Buy New
Buy New from
Used and New from Other Sellers
Used and New from Other Sellers
from $8.95
Usually ships in 1-2 business days
(Save 89%)
Other sellers (Hardcover)
  • All (11) from $8.95   
  • New (4) from $69.28   
  • Used (7) from $8.95   


An example of special interest protection is provided by this study's general equilibrium theory that explains income distribution with goods markets, factor markets, lobbies, political parties and voters all pursuing their self interests.
Read More Show Less

Editorial Reviews

Cambride University
The best of all the 'rational choice' models of politics. The political science establishment should be mortified that it had to be written by economist.
From the Publisher
"This book takes a major step toward giving us a real understanding of why we observe restrictive protectionism despite the free-trade arguments advanced by economists for more than two centuries." James M. Buchanan

"Magee, Brock, and Young are the pioneers of modern political economy. Since the early 1970s their work has provided the theoretical microfoundations for the subject. This long-awaited book also demonstrates empirical tests of the theory. The Magee-Young theorem of increasing returns to the abundant factor will join the Rybczynski theorem as a core proposition in the theory of international trade." Robert E. Baldwin

"The best of all the 'rational choice' models of politics. The political science establishment should be mortified that it had to be written by economists." Thomas Ferguson

"Sixteen years have elapsed since Brock and Magee began their promising work on the theory of protection. Now they and Leslie Young have shown that our wait has been properly rewarded. Here is a wide-ranging and highly imaginative treatment of protectionism and the underlying theory of coalitions." George J. Stigler

Read More Show Less

Product Details

  • ISBN-13: 9780521362474
  • Publisher: Cambridge University Press
  • Publication date: 8/25/1989
  • Pages: 458
  • Product dimensions: 5.98 (w) x 8.98 (h) x 1.10 (d)

Table of Contents

Preface; Acknowledgments; list of results; 1. A preview of the results; 2. Endogenous policy theory: a diagrammatic approach; Part I. Endogenous Policy Theory with Specific Factors: The Theory of Industry Tariffs in Partial Equilibrium: 3. The probabilistic voting model of political efficiency and powerless politicians; 4. Endogenous lobbying theory and the contribution specialization theorem; 5. Endogenous tariff theory; 6. The power function model of endogenous industry lobbying; 7. Three simple tests of the Stolper-Samuelson theorem; 8. The invisible foot and the waste of nations: lawyers as negative externalities; Part II. Endogenous Policy Theory in General Equilibrium: A Long-Run Theory of National Tariff Levels: 9. The 2 x 2 x 2 x 2 model of endogenous redistribution theory; 10. A prisoner's dilemma theory of endogenous protection: the Leontief model; 11. The compensation effect and the multiple equilibrium trap; 12. increasing returns to politics and factor endowments: economic development and Brazilian vitality versus the Indian disease; 13. Endogenous protection in the United States, 1900–88; 14. A Cobb–Douglas model; 15. Black hole tariffs; 16. The endowment effect: cross-national evidence on endogenous tariffs; Part II. Postscript: 17. The senile-industry argument for protection; 18. Optimal obfuscation and the theory of the second worst: the politically efficient policy; Mathematical appendices; References; Author index; Subject index.
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)