MUMBAI COLLOQUIUM ON THE ECONOMICS OF POLITICS
“Democracy is the worst form of government, except all the others that have been tried from time to time” goes the famous quip by Winston Churchill. Britain’s most eminent statesman, himself a democratically elected leader, had no illusions about a political system based on majority. And yet, 50 years after his death, we continue to hold romanticized notions about a “government of the people, by the people, for the people” (Abraham Lincoln): Elections are knowledge-accumulating processes, politicians act for the common good of society, and no citizen enjoys more privileges than any of his fellow compatriots. But is this justified?
Public Choice Theory, developed in the middle of the last century, urges us to think otherwise. What happens, these scholars asked themselves, if we apply the patterns we see in economics – individuals primarily seeking to satisfy their personal needs and desires – to the political process? To understand the answers they give, and what effect their insights have for our views on politics and society, imakes up the core of this seminar.
Come join us for this amazing discussion among a highly intellectual group of students!
Deadline for applications: April 4