Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE (www.oxfordhandbooks.com). © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 15 December 2018

Abstract and Keywords

This chapter draws on key concepts from the Austrian school of economics to consider both the practical implications for and the ethical evaluation of the ideal constitutional schemes proposed by John Rawls and James Buchanan. With regard to practicalities, the chapter challenges the types of political regimes favored by Rawls and Buchanan on the grounds that they pay insufficient attention to the “knowledge problem.” With respect to moral evaluation, the chapter argues that the contractarian method provides insufficient grounds to judge the legitimacy of political institutions in a world characterized by actors with bounded rationality and diverse standards of evaluation.

Keywords: Austrian school, bounded rationality, James Buchanan, constitutional schemes, contractarianism, John Rawls

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.