Abstract
Extending some results of the economic theory of incomplete contracts to the analysis of political exchange, the contribution argues that the constitutional principle of isonomia - that is, the separation of legislature and government, which leads to democratically elected governments being subject to 'equal laws' - is a necessary condition for the optimal working of representative democracy.
Original language | English |
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Title of host publication | Understanding Democracy |
Editors | ALBERT BRETON, GIANLUIGI GALEOTTI, PIERRE SALMON, RONALD wINTROBE |
Pages | 47-63 |
Number of pages | 17 |
Publication status | Published - 1997 |
Keywords
- democracy
- incomplete contracts