Interdisciplinary Studies of the Political Order: New Applications of Public Choice Theory

The political process focuses on the ways that people come together to engage in collective decision making in a variety of contexts. The central elements of the political process include: the formation of rules, the subsequent interactions that take place within those rules, and the evolution of rules over time.

Scholars working in the area of Virginia political economy—e.g., James Buchanan and Gordon Tullock—emphasize the importance of applying the tools of economics to non-market setting...