Note intorno alia teoria delle scelte pubbliche

Abstract

Public Choice can be defined as the application of microeconomics to the analysis of public decision-making. According to this approach, the microeconomic theory is not considered any more as restricted to the field of price theory, and its role is extended from the private market to the political one.By taking both voters and politicians as endogenous variables, the Public Choice school fills a basic gap of the traditional approach to the study of public policy. The application of this new methodology made it possible to identify, abreast of the well known "market failure*, the eventual "government failure*, due to the inadequacy of public intervention in economy.