In this fully revised second edition of a well-regarded and popular text, Patrick McNutt presents more ideas and challenges to all those interested in political economy and public choice. The author evaluates a range of public choice concepts including rent-seeking, voting and voter behaviour, and the growth of government and bureaucracy. New material in this second edition includes:

the introduction of a moral choice set and a new methodology for the treatment of the concept of fairness
a positive theory of rent-seeking with empirical estimates
the issue of legal barriers to entry and related themes; in particular how a legal barrier can affect consumer welfare
a critical evaluation of the exchange and allocation of economic power and income inequality in developing countries
an overview of the global political economy which identifies the contribution of public choice.

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Patrick A. McNutt, Business Consultant based in Dublin, ROI and Visiting Fellow, Alliance Manchester Business School, UK

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