Problem
Origin of the theory of public choice
The theory of public choice was initially developed by James M. Buchanan. Its objective was to refute the assumption that politicians act for the benefit of their constituents. Thus, he analyzed the variables or incentives that influence the decisions of the authorities.
It should be noted that Buchanan won the Nobel Prize in Economics in 1986 for his contributions to the theory of public choice.
Characteristics of the theory of public choice
Among the characteristics of the public election are:
Part of methodological individualism, that is, the individual becomes the relevant unit of analysis.
It is also known as "politics without the romance novel."
It is related, within the scope of public policies, to the theory of social choice. This is a mathematical approach that attempts to explain how individual interest affects the decision of the voter.
Buchanan noted that the consequences of public policies must be assumed by all citizens, and not only by the authorities.
To what is indicated in the previous point, it is added that the public funds belong to all taxpayers. Therefore, according to Buchanan, citizens should have access to legal mechanisms that allow them to monitor the decisions of their rulers (Isabella, 2019).
Do you agree with his original assumption that politicians do not act for the benefit of their constituents?