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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
Limits On The Application Of Motivational Homogeneity In The Work Of Buchanan And The Virginia School, David M. Levy, Sandra J. Peart
Limits On The Application Of Motivational Homogeneity In The Work Of Buchanan And The Virginia School, David M. Levy, Sandra J. Peart
Jepson School of Leadership Studies articles, book chapters and other publications
At its founding, the set of ideas that came to be known as Virginia Political Economy originated from the work of Rutledge Vining, James Buchanan, Warren Nutter, Ronald Coase, and Gordon Tullock. In terms of scholarly stature, that short list comprises two Nobel Prize winners (Buchanan and Coase) and a recipient of the American Economic Association Distinguished Fellow award (Tullock). It also includes an economist (Nutter) who, in the midst of the Cold War, described the Soviet economy more accurately than any of the major experts in that field. Virginia Political Economy was characterized by four foundational principles: the endogeneity …
Adam Smith, Collusion And “Right” At The Supreme Court, David M. Levy, Sandra J. Peart
Adam Smith, Collusion And “Right” At The Supreme Court, David M. Levy, Sandra J. Peart
Jepson School of Leadership Studies articles, book chapters and other publications
Adam Smith’s views on collusion were injected into the Supreme Court’s ruling in Bell Atlantic v. Twombly as Justice Stevens puzzled over why a collusive action might be viewed as “right.” Motivation by a desire for approbation provides Smith’s explanation for the existence of well- functioning groups. “Right” action is approved by the group. The question is what happens when the groups are in conflict. For Smith, collusion is one instance of the larger problem of faction in which a small group organizes to exploit the larger society.