Reason, Ideology, and Democracy: A Study in Entangled Political Economy

by Meg Patrick Tuszynski, Richard E. Wagner

Overview

Democratic political systems are often thought to be preferable to all others for supporting liberty. Around the world, nations that are more democratic tend to be freer across various aspects of life and human experience. This book undertakes a social scientific analysis of this claim and finds it to be wanting.

The reality of democratic systems does not adhere to popular rhetoric. One of the key reasons for this is that our system is an entangled system, one in which the realm of the political and commercial are so intertwined that they cannot be easily separated. Businessmen have political interests, and politicians have commercial interests. The implication of this entanglement is that alleviating the problems that emerge in democratic systems is not a simple matter of rolling back damaging interventions. Due to the logic of entanglement, returning to a “free market” is not possible in most cases.

The authors pull economics back to its classical roots to analyze the social orders that best allow people to live together. The world is not constantly aiming at placidity, as the prevailing economics of equilibrium would have us think. We live in a world of change and turbulence, so our social science requires a framework that deals with this turbulence robustly. Classical economists beginning with Adam Smith sought to uncover which forms of human association allowed us to live better together. The authors explain Smith’s observations, asking the same sorts of questions of readers today. Because the baseline assumption of entanglement does not allow one to divide the world so clearly into two distinct structures, the authors parallel Smith’s approach, focusing on forms of association rather than political or commercial structures. Focusing on human association, the authors help readers uncover the manifold structures humans have devised that allow them to tame the turbulence and live lives more harmoniously with others.

Product Details

ISBN-13:	9783031698392
Publisher:	Springer Nature Switzerland
Publication date:	10/18/2024
Edition description:	2024
Pages:	290
Product dimensions:	5.83(w) x 8.27(h) x (d)

About the Author

Meg Patrick Tuszynski is Managing Director of the Bridwell Institute for Economic Freedom and Research Assistant Professor in the Cox School of Business at Southern Methodist University. Tuszynski has published research in Public Choice, Southern Economic Journal, Journal of Entrepreneurship and Public Policy, Journal of Regional Analysis and Policy, and American Journal of Entrepreneurship, among others. She has also published popular pieces in outlets including Investor's Business Daily, Washington Examiner, Dallas Morning News, and Daily Caller.

Richard E. Wagner is Holbert L. Harris Professor of Economics, Emeritus, at George Mason University. He has authored more than 25 books and 200 journal articles across a diverse spectrum of subjects in economic theory and political economy. He was the founding co-editor of Constitutional Political Economy from 1989-1997, and he is currently a member of the editorial boards of Constitutional Political Economy, Journal of Public Finance and Public Choice, Journal of Infrastructure, Policy, and Development, and Review of Austrian Economics.

Table of Contents

Chapter 1:Valuation, Choice, and Human Action: Economic Calculation Reimagined.- Chapter 2:Human association within a theory of social organization.- Chapter 3:Human Differences, Leadership, and the Emergence of Politics.- Chapter 4:System’s Theory as an Appropriate Tool for Understanding Human Population Systems.- Chapter 5:The Growth of Government and the Emergence of Social Cancers.- Chapter 6:The Use of Language in Political Economy.- Chapter 7:Forms of turbulence in society: normal and political.- Chapter 8:The legislation-administration nexus in political economy.- Chapter 9:Law, Political Economy, and Contemporary Discourse on Inequality.- Chapter 10:Intelligence and Democratic Action within Society.- Chapter 11:What Should Economists Do?.- Chapter 12:Searching for Liberty in an Ever-Shrinking World.

What People are Saying About This

From the Publisher

“In this rich volume, Meg Tuszynski and Richard Wagner bring a fresh economic analysis to democracy and its institutions and practices. Often such work treats these as idealized in various ways — often stable and homogeneous, as seen through various ideological lenses — but the focus here is on the heterogeneity of inputs into democratic decision-making. These are formal and informal, always changing and often turbulent. The scope of their analysis includes law and language, legislation and administration. The result is a breath of fresh air in scholarly treatment of democratic associations.” (Mark LeBar, Professor of Philosophy, Editor, Social Theory and Practice, Florida State University)

“This deep meditation on democracy and freedom reveals that democracy is in peril because we have asked it to do too much. Democracy requires discussion, which we do better in small groups than mass society. Tuszynski and Wagner urge us to trust more in the pragmatic decision-making of our fellow humans and less in the ever-changing fever dreams of a democratic majority. If we don’t heed their warning, we shall lose what remains of democracy and freedom alike.” (Roger Koppl, Professor of Finance, Whitman School of Management, Syracuse University)

“The unique insights offered by public choice economics, the Austrian school, systems theory, or even the Scottish Enlightenment are often used as friendly amendments or caveats to standard economic theory. Tuszynski and Wagner instead place them at the heart of their exploration of the push and pull between turbulence and order in human sociality. What emerges is a sober but hopeful exploration of the prospects for preserving liberty in entangled commercial and democratic orders.” (Adam Martin, Political Economy Research Fellow, Free Market Institute and an associate professor of agricultural and applied economics in the Gordon W. Davis College of Agricultural Sciences & Natural Resources at Texas Tech University)

“Reason, Ideology and Democracy_ by Meg Tuszynski and Richard Wagner is a brilliant exposition of how political economy done correctly can illuminate the reality we see out the window, as well as bring hope that we can still find liberty in this complex yet shrinking world that we find ourselves occupying. Conflict, strike and contested views are omnipresent, how do we use our limited reason to have a sensible conversation about these conflicts, and find the institutional patterns that we turn those situations of conflict into opportunities for social cooperation. We cannot presume social cooperation and harmony, but must find our way to it against the constraint that "reality is not optional." Tuszynski and Wagner have produced a must read for any serious reader of political economy.” (Peter Boettke, Distinguished University Professor, George Mason University)

“With a keen awareness of how markets and politics intersect, Meg Tuszynski and Richard Wagner challenge the assumption that democratic governance runs on rational deliberation and ideal decision-making, contrasting it with the emergent order and adaptive efficiency of private choice in markets. By critiquing conventional economic models that oversimplify human behavior, they draw attention to the ‘entangled’ complexity of decision-making in both spheres. ‘Reason, Ideology, and Democracy’ makes a persuasive case for scholars of modern political economy to return to Adam Smith’s clear-eyed principles of economic and political thought.” (Bart J. Wilson, Donald P. Kennedy Chair in Economics and Law and Director of the Smith Institute for Political Economy and Philosophy, Chapman University)