"Introduction: A Brief Trajectory of Public Choice and Public Law" [2010] ELECD 307; in Farber, A. Daniel; O’Connell, Joseph Anne (eds), "Research Handbook on Public Choice and Public Law" (Edward Elgar Publishing, 2010)

Book Title: Research Handbook on Public Choice and Public Law

Editor(s): Farber, A. Daniel; O’Connell, Joseph Anne

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781847206749

Section Title: Introduction: A Brief Trajectory of Public Choice and Public Law

Number of pages: 16

Extract:

Introduction: A brief trajectory of public choice
and public law
Daniel A. Farber and Anne Joseph O'Connell


Public choice theory plays a critical role in public law, particularly for legal scholarship
and to some extent for doctrine. To be sure, it is not the only game in town, but it is an
important one.
We take broad views of both public choice and public law. Public choice theory, as the
term is used in this volume, not only includes the classic application of economic prin-
ciples to constitutional structure (as first articulated by James Buchanan and Gordon
Tullock) but also the overlapping categories of social choice, rational choice, and posi-
tive political theory. In short, public choice theory captures the application of basic eco-
nomic principles ­ including rationality and self-interest of participating actors ­ to any
public institution, whether formally political or not. Public law here is also used broadly.
For our purposes, it encompasses most formal and informal interactions with govern-
mental institutions, such as those between legislators, or between lobbyists and a federal
agency. These interactions may be entirely among governmental actors or may include
connections between the state and private individuals.
This volume is part of a new series, Research Handbooks in Law and Economics,
which has been developed under the direction of Judge Richard Posner and Professor
Francesco Parisi. Each volume in the series aims to serve as a reference, providing helpful
introductions to important topics, and as a provocateur, suggesting weaknesses and
important areas ...