Explaining the existence and stability of democracies pose difficulties for the public choice paradigm. This article argues that these difficulties may be resolved by focusing on the insurance aspect of democratic decision-making procedures. Democratic regimes may be better able than autocratic...

Welfare expenditures are difficult to explain within a pure public-choice framework. In this article, the author argues that the difficulties may be resolved by assuming that the main purpose of welfare schemes is to provide the electorate--in their capacity of different risk categories--with...