DEMAND AND SUPPLY IN THE POLITICAL MARKET
John A. Turner
(U.S. Department of Labor, Washington, D.C.)
229
Abstract
Price theory has traditionally analyzed resource allocation in the money‐exchange market. In all modern economies, however, governments also allocate resources. The process which resolves competing claims on government‐allocated resources has been called the political market. In the political market, groups compete for resources by voting and by lobbying through expenditures of effort and money.
Citation
Turner, J.A. (1987), "DEMAND AND SUPPLY IN THE POLITICAL MARKET", Studies in Economics and Finance, Vol. 11 No. 1, pp. 3-17. https://doi.org/10.1108/eb028671
Publisher
:MCB UP Ltd
Copyright © 1987, MCB UP Limited