Politicized Economies
Monarchy, Monopoly, and Mercantilism
6 x 9, 320 pp.
7 charts.
Pub Date: 04/01/1997
Texas A&M University Economics Series
Price:        $39.95 s


Published by Texas A&M University Press

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Politicized Economies

Monarchy, Monopoly, and Mercantilism

By Robert B. Ekelund Jr. and Robert D. Tollison

In this highly readable analysis, the authors use positive-economics principles to show how the supply and demand of monopoly rights from the state (rent seeking) provided first the impetus for European mercantilism and later the reasons for its demise in England and entrenchment in France. The balance-of-trade objective, treated by most historians as a primary motive for mercantilism, is shown instead to be the by-product of self-interested parties' seeking of rents.

In addition to questions of the causes and results of economic regulation, this thoughtful book raises issues in the methodology of economic history and history of thought generally. Public-choice theorists, political economists, and economic policy makers will likewise find it instructive and stimulating.

Robert B. EKELUND, JR., is professor of economics at Auburn University.ROBERT D. TOLLISON is director of the Center for Study of Public Choice, George Mason University, Fairfax, Virginia.

What Readers Are Saying:

"[The authors] cast new light on the crucial link between `rent' or monopoly profits and institutional change." --American Historical Review


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