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Rationality and the Political Business Cycle: The Case of Local Government

✍ Scribed by Jacob Rosenberg


Book ID
125292872
Publisher
Springer US
Year
1992
Tongue
English
Weight
953 KB
Volume
73
Category
Article
ISSN
0048-5829

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This essay argues that politically motivated business cycles could persist in a democratic society even if the electorate votes in a rational, fully informed manner, provided that government policymakers have the means to systematically generate macroeconomic fluctuations. This cyclic outcome reflec