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Politics & Government

Constitutional Political Economy in Constraining Predatory Governments

Quick fact

Constitutional political economy is a public choice lens that views a constitution as a pre-commitment device: it is a 'precommitment' that binds future governments, making them unable to behave as predators, and thereby encouraging long-term investment and growth.

Why this is interesting

Imagine a country where the government can legally seize your property at any time. Why would anyone invest? That question led economists to treat constitutions not as noble documents, but as strategic locks on state power.