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The Reason For Unanimity——The Ethical Foundations of Public Choice Theory
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TitleThe Reason For Unanimity——The Ethical Foundations of Public Choice Theory  
AuthorFang Qin, Li Jun and Jiang Hong  
OrganizationFudan University;Shanghai University of Finance and Economics;; 
Key WordsThe Buchanan’s Paradox; The Rule of Unanimity; Constitutional Theory; Decision-making Cost; The Principle of Justice 
AbstractIn The Calculus of Consent, James M. Buchanan and Gordon Tullock presented two essential elements of the public choice theory, which are also highly controversial, one is politics as exchange; the other is the rule of unanimity. In this article, we are going to review these two elements from are different point of view. By analyzing the Buchanan’s Paradox, which was presented in The Calculus of Consent, we can deduce Locke’s solution from Hobbes’s solution, and solve the paradox. Then we will found the normative value implicated by the rule of unanimity, and understand the true meaning of politics as exchange. 
Serial NumberWP1018 
  • Institute of Economics, Chinese Academy of Social Sciences
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