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Economists and the State

Author

Listed:
  • Timothy P. Roth
Abstract
Adam Smith is widely regarded as the ‘founder of modern economics’. The author shows, however, that Smith’s procedurally based, consequence-detached political economy, an approach shared by America’s Founders, finds no expression in the economist’s utilitarian, procedurally-detached theory of the state. This ‘wrong turn’ has meant that, if economists are ill-equipped to address an expanding federal enterprise in which utilitarian considerations trump the Smithian/Madisonian idea that means and ends must be morally and constitutionally constrained, they are also ineffectual bystanders as growing institutional skepticism, demands for ‘social justice’ and metastasizing rights claims threaten our self-governing republic.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Timothy P. Roth, 2014. "Economists and the State," Books, Edward Elgar Publishing, number 15078.
    • Handle: RePEc:elg:eebook:15078
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    References listed on IDEAS

    as
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    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    Economics and Finance; Politics and Public Policy;

    JEL classification:

    • H0 - Public Economics - - General

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