Monopoly Politics
by Miller III, James C.Format: Paperback
Pub. Date: 1999-07-01
Publisher(s): Hoover Institution Press
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Summary
Jim Miller details how political markets function in a way that makes it inherently difficult for them to perform as well as commerical markets. He exposes advantages incumbents erect to ward off challengers and reveals how most reform proposals increase these advantages. Drawing on his own experience in politics, he outlines ways to broaden opportunities for challengers and make the political marketplace more competitive and responsive to the voters.
Author Biography
Jim Miller is a fellow at the Hoover Institution and is John M. Olin Distinguished Fellow at Citizens for a Sound Economy Foundation and at the Center for Study of Public Choice at George Mason University.
Table of Contents
| List of Tables, Figures, and Charts | p. ix |
| Preface | p. xi |
| Introduction | p. 1 |
| Private versus public decision making | p. 1 |
| Why public decisions are important | p. 2 |
| Outline of book | p. 13 |
| Competition in Commercial Markets | p. 17 |
| Consumer sovereignty | p. 17 |
| Incentive to monopolize | p. 22 |
| Antitrust laws | p. 24 |
| Competition in Political Markets | p. 33 |
| Voter sovereignty | p. 33 |
| Incentive to monopolize | p. 39 |
| Election laws | p. 42 |
| Unique Features of Political Markets | p. 47 |
| Individual versus collective decision making | p. 47 |
| Fixed terms and principal-agent problem | p. 54 |
| Political speech and the First Amendment | p. 59 |
| Implications for efficiency and competition | p. 63 |
| Incumbents' Advantage | p. 75 |
| Assets of office | p. 76 |
| Federal election law | p. 88 |
| Dealing with the regulators | p. 95 |
| Monopoly politics | p. 101 |
| Proposed Reforms | p. 103 |
| "Throw the bums out" approach | p. 106 |
| Institutional reforms | p. 108 |
| Revisions in campaign finance laws | p. 113 |
| A note on incumbents' motives | p. 127 |
| Conclusions and Recommendations | p. 131 |
| Summary and lessons learned | p. 131 |
| Needed reforms and plan of action | p. 138 |
| Index | p. 149 |
| Table of Contents provided by Syndetics. All Rights Reserved. |
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