Economic theory of the state

In this widely acclaimed book, David Whynes and Roger Bowles draw together disparate elements from modern economics and politics to develop a coherent theory of the state. They set out to answer such fundamental questions as why states exist, why political and economic institutions take the form they do, and why so many states are characterized by 'mixed economies'. This wide ranging approach allows such important variables as legal systems and political arrangements to feature in economic analyses and emphasizes the role of the state in an international context.

The authors also consider such essential issues as the choice between private and public ownership, the efficient - and equitable allocation of scarce resources, and the scope of government regulation. At a time when debates are raging about government intervention in the economy and cuts in public expenditure, it is more vital than ever that economic analysis should encompass these wider social and political issues.