Can corruption improve economic efficiency? Classical political economists argue that corruption undermines the rule of law (Smith 2001, Chap 5). The modern Public Choice proponents argue that corruption might influence the efficiency of the rule of law. While Chicago Public Choice scholars...

Can corruption improve economic efficiency? Classical political economists argue that corruption undermines the rule of law (Smith 2001, chap 5). The modern Public Choice proponents argue that corruption and lobbying might influence the efficiency of the rule of law. While Chicago Public Choice...

Can corruption improve economic efficiency? Classical political economists argue that corruption undermines the rule of law (Smith 2001, chap 5). The modern Public Choice proponents argue that corruption and lobbying might influence the efficiency of the rule of law. While Chicago Public Choice...

Can corruption improve economic efficiency? Classical political economists argue that corruption undermines the rule of law (Smith 2001, chap 5). Modern Public Choice proponents argue that corruption and lobbying might influence the rule of law’s efficiency. While Chicago Public Choice...

I survey classical and Keynesian theoretical frameworks and explain their general suggestions for public policies. I classify Classical Political Economy, Ordoliberalism, and New Political Economy as theoretical concepts that suggest rule of law as institutional framework that allows the...