- Paperback: 460 pages
- Publisher: Cambridge University Press (August 25, 1989)
- Language: English
- ISBN-10: 0521377005
- ISBN-13: 978-0521377003
- Product Dimensions: 6 x 1 x 9 inches
- Shipping Weight: 1.3 pounds (View shipping rates and policies)
- Average Customer Review: 2 customer reviews
- Amazon Best Sellers Rank: #1,542,392 in Books (See Top 100 in Books)
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Black Hole Tariffs and Endogenous Policy Theory: Political Economy in General Equilibrium Paperback – August 25, 1989
The Amazon Book Review
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"This book takes a major step toward giving us a real understanding of why we observe restrictive protectionism despite the free-trade arguments advanced by economists for more than two centuries." James M. Buchanan
"Magee, Brock, and Young are the pioneers of modern political economy. Since the early 1970s their work has provided the theoretical microfoundations for the subject. This long-awaited book also demonstrates empirical tests of the theory. The Magee-Young theorem of increasing returns to the abundant factor will join the Rybczynski theorem as a core proposition in the theory of international trade." Robert E. Baldwin
"The best of all the 'rational choice' models of politics. The political science establishment should be mortified that it had to be written by economists." Thomas Ferguson
"Sixteen years have elapsed since Brock and Magee began their promising work on the theory of protection. Now they and Leslie Young have shown that our wait has been properly rewarded. Here is a wide-ranging and highly imaginative treatment of protectionism and the underlying theory of coalitions." George J. Stigler
An example of special interest protection is provided by this study's general equilibrium theory that explains income distribution with goods markets, factor markets, lobbies, political parties and voters all pursuing their self interests.