From Catch-all Politics to Cartelisation: The Political Economy of the Cartel Party

Adaptations to coordination problems endogenous to political parties have established the cartel party as the emerging equilibrium type in modern Western democracies. However, these factors alone are insufficient to maintain such an equilibrium given the threat of defection. That threat is mitigated by three factors: historical changes in party form, systemic changes in the global economy and changed ideas about governments. Together, these changes produce both a cartel of parties and the cartel party organisational form, without requiring overt conspiracy. These speculations are mapped onto actual experiences of the UK, the US and Sweden. The theory of the cartel party is advanced by emphasis on the 'cost of production' of policies and the constriction of the policy-space over which parties compete. We also explain why a cartel of parties might be stable, notwithstanding the temptation to defection often attributed to cartels as multi-player prisoners' dilemmas.     

On the Limitation of Penalties and the Non-Equivalence of Penalties and Taxes

This paper compares the impacts of a penalty on accident and a per-unit tax on output, when social damages depend on the output of firms. The choice of the optimal regulation, aiming at internalizing a damage, is influenced both by the market power of firms and by their potential (in)solvency in case of accident. Output strategies influence the solvency situation of firms for paying a penalty, which may lead to multiple equilibria (all firms are either solvent or insolvent in case of accident). When social damages are large, the optimal penalty is capped for avoiding a situation with insolvent firms. In this case, a regulator implements a per-unit tax.JEL Classification: K13, L13     

Some allied misunderstandings in the Middle East, 1918–1920

Mizh—A Monograph. By Sir Evelyn Howell, K.C.I.E., C.S.I. Published by Government of India Press, Simla, 1931.

The Culture and Art of India. By Radhakamal Mukerjee. Published by George Allen and Unwin. 1959. Pp. 447. 55 illustrations. 50s.

Sources of Indian Tradition. Compiled by Wm. Theodore de Bary, Stephen Hay, Royal Weiler, Andrew Yarrow. Columbia University Press, New York, and Oxford University Press, London. Pp. 961. Indexed. U.K. price 55s.

Foundations of Tibetan Mysticism. By Lama anagarika Govinda. Published by Rider and Co., 1959. Pp. 310. Index, bibliography. 30s.

The Revolt in Tibet. By Frank Moraes. Macmillan Co. of New York. 1960. Pp. 223. (Price not given.)

The Naked Hills. Tales of Afghanistan by Charles Beardsley. Peter Davies. Pp. 275. 16s.

Riding to the Tigris. By Freya Stark. John Murray. 21s.

Ottoman Imperialism and German Protestantism, 1521–1555. By Stephen A. Fischer‐Galati. O.U.P. for Harvard University Press. 1959. Pp. viii +140. 32s.

The Soviet Union and the Middle East. By Walter Z. Laqueur. Routledge and Kegan Paul, London. Pp. x + 360. Index. 35s.

A Political Study of the Arab‐Jewish Conflict. The Arab Refugee Problem. By Rouy E. Gabbay. Published by Librairie E. Droz, Geneva. Bibliography, index. Pp. 611. Swiss Frs. 50.

History and Tribes of Jordan. By F. G. Peake. Published by University of Miami Press. Pp. 253. Maps.

Lebanon in the Last Years of Feudalism, 1840–1868. A contemporary account by Antūn Dahir al‐'Aqiqi, and other documents translated by Malcolm H. Kerr. Published by the American University of Beirut, 1959. Pp. 159. Index.

Sun and Shadow at Aswan. By Herbert Addison. Chapman and Hall. 1959. Pp. 166. 18s. Indexed and illustrated.

Bankers and Pashas. International Finance and Economic Imperialism in Egypt. By David S. Landes. Heinemann. 1958. Illustrated. Pp. 344. 30s.

The Tales of Marzuban. Translated from the Persian by Reuben Levy. Thames and Hudson. Pp. 254. 25s.

Human Relations Area Files Incorporated. Subcontractor's Monograph. Afghanistan. Edited by Donald N. Wilber (1956). 2 vols. Indexed. 460 and 842 pages.

The Foundation of Dutch Power in Ceylon, 1638–1658. By K. W. Goone‐wardena. Under the Auspices of the Netherlands Institute for International Cultural Relations. Amsterdam, Djambatan. 1958. Pp. xx+196. Maps and illustrations. Dfl. 30 (57s.).

Dutch Power in Ceylon, 1658–1687. By S. Arasaratnam. Under the Auspices of the Netherlands Institute for International Cultural Relations. Amsterdam, Djambatan, 1958. Pp. xxii + 246. Maps and illustrations. Dfl. 32 (60s.).

The Junkman Smiles. By G. R. G. Worcester. Chatto and Windus, London. Pp. 254. 8 Plates, drawings and map by the author. 21s.

Chinese Art and Culture. By Rene Grousset. Published by André Deutsch. 55s.