Enrique A. Bour
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Economics, populism and democracy
These two articles were presented at the International Congress of Economics and Management ECON 2018, held at the School of Economics of the University of Buenos Aires on October 3, 2018. Macroeconomic and welfare implications of the difficulty of aggregating individual values – as analized by Kenneth Arrow and Gibbard and Satterthwaite – are surveyed. We present a brief introduction to the work of the political scientist William Riker and his critical analysis of populism, as well as to the interesting distinction which he established between “liberalim” and “populism”, two very different points of wiev of the political scene that have far reaching implications. Populism, in Riker’s view, is discredited by the Theory of Social Choice. In the end, Arrow’s Theorem is analized in terms of its practical implications. In fact, the problem addressed by this theorem is at the core of all the impossibility results that we have surveyed. So, the question is posed, what can be done? The dominance theorem – as exposed by Sen & Maskin, 2014 – comes in the end to the rescue of the majority rule.

1. The populist phenomenon (PDF de 314 KB).

2. Economics, Politics, and Populism (PDF de 626 KB).

Last Updated ( Sunday, 07 October 2018 )
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