The Economic Role of the State presents a comprehensive collection of seminal works from David Hume through to Barry Weingast. Including an original introduction, the volume covers the main theories and justifications for and against state intervention as they have developed over two centuries. It also incorporates an institutional approach to the role of the state in enforcing ‘the rules of the game’ of the economy as well as examining specific issues including market failure, rent-seeking and regulation. Economists and political scientists alike will find this to be the ideal guide to the classic and modern arguments surrounding the state’s role in the economy.
It contains 31 articles dating from 1776 to 2012. Contributors include: J. Buchanan, R. Coase, F.A. Hayek, D. Hume, J.M. Keynes, J.S. Mill, P. Samuelson, A. Shleifer, A. Smith, G. Stigler, B. Weingast.