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Monopolistic competition, auction and authorization: a Schumpeterian view of leadership and the political market

Monopolistische Konkurrenz, Auktion und Autorisierung: eine Schumpetersche Analyse
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Körösényi, András

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Abstract "The market analogy of democracy played a central role in one of the leading versions of democratic theory in the last fifty years, in the so-called 'elite' or 'competitive' theory of democracy. In the present paper, 1 first clarify that the dominant school of the market analogy (Downs and his followers) turned its back on the approach of the originator of the analogy, Joseph Schumpeter. Schumpeter argued that both economic and political competition - due to the activity of entrepreneurs - are necessarily monopolistic and destroy equilibrium. Second, I show how followers of the Schumpeterian market analogy improved upon it by using the concept of natural monopolies and making it conform to the characteristics of politics, while further distancing themselves from Downsian interpretation and the dominant Public Choice approach. Finally, I demonstrate a normative implication of monopolistic competition, namely its consequences for the concept of 'agency loss'." (author's abstract)
Keywords elite; elite research; economic elite; economic theory; Schumpeter, J.; democracy; theory; theory of society; historical development; competition; political elite; politician; market; monopoly; research approach; comparative political science
Classification Political Process, Elections, Political Sociology, Political Culture; Basic Research, General Concepts and History of Economics
Method basic research; theory formation
Document language English
Publication Year 2012
Page/Pages p. 57-72
Journal Historical Social Research, 37 (2012) 1
Issue topic Elite foundations of social theory and politics / Elitetheoretische Grundlagen sozialwissenschaftlicher Theoriebildung und politischer Analyse
ISSN 0172-6404
Status Published Version; peer reviewed
Licence Creative Commons - Attribution-Noncommercial-No Derivative Works