. . . Public Choice is the pathbreaking theory that demystified the decisions of politicians, showing that they act rationally in order to maximize their own economic benefits.
Soon after receiving tenure, it occurred to me that we were being profoundly inconsistent. While we had correctly criticized the previous mainstream view that politics involved benevolent efforts to serve the common good, we had failed to apply the same rigor to the community of academic economists. As a result, we were modeling both economic and political actors as self-interested utility-maximizing agents, while continuing to see economics professors as idealistic pursuers of truth. I decided to correct this oversight by developing my theory of Academic Choice, in which economists are theorized as rational agents who continually seek to maximize their future earnings potential.
Thursday, December 12, 2013
Academic Choice theory
Blacklisted Economics Professor Found Dead: NC Publishes His Last Letter: