The inflationary aspect of repetitive devaluation: A comment

In this paper we use primary data on 500 Ghanaian FBOs collected through semi-structured interviews and risky dictator games (RDG) to test the validity of the cooperative life cycle theory and formulate a measure of cooperative health. We first define cooperative health as the alignment of heterogeneity in risk preferences and the effectuation of collective investments. We then use cluster and correlation analysis to categorize FBOs on the basis of their health and correlate these typologies with various performance indicators. Our findings reveal that organizational health is generally low as there are only a few organizations that manage to provide member-farmers with both risk-sharing and cost-saving opportunities. Further, healthier FBOs experience stronger growth in membership while health is lower in FBOs that have been established for the purpose of benefitting from external incentives.     

The fairness of sanctions: some implications for optimal enforcement policy

In this article we incorporate notions of the fairness of sanctionsinto the standard model of public enforcement. When both theprobability and magnitude of sanctions may be varied, the usualsolution involves a very high sanction and a relatively lowprobability of enforcement if individuals are risk neutral.When the issue of fairness is added to the analysis, the optimalsanction generally is not extremely high because such a sanctionwould be seen as unfair. The optimal probability of imposingsanctions may be higher than in the usual case (to offset thelower sanction) or lower than in the usual case (because thelower sanction reduces the effectiveness of enforcement).     

Does Familiarity Breed Contempt? The Impact of Information on Mass Attitudes toward Congress

Two features of citizen response to Congress can be taken as grounds for concern. First, Americans know relatively little about Congress, and especially about congressional procedures and policy output. Second, Congress typically emerges as the least respected political institution. Although these matters are troubling when viewed individually, more disturbing is the dilemma posed when knowledge and attitudes toward Congress are viewed in tandem. It appears that citizens who know Congress the best like Congress the least. Consequently, a sophisticated polity and a well-respected legislature seem fundamentally incompatible. This article seeks to resolve this dilemma, contending that there is nothing about knowledge per se that leads citizens to view Congress unfavorably. Rather, differences in knowledge levels alter the considerations citizens bring to bear when evaluating Congress, with the best-informed individuals constructing judgments on the basis of the most relevant Congress-specific criteria while less knowledgeable citizens employ readily available but more peripheral criteria.     

Federalism and the European Parliament

The European Parliament has been a source of controversy sinceits inception. Its direct election was seen as endorsing a federalstructure and political future for the European Community (laterEuropean Union). Changes in its authority and legislative powerswere seen as symptomatic of creeping federalism and the emasculationof member states' national sovereignty. The European Parliament'sconscious contribution to developing federalism and constructinga federal Europe relate to its direct election, its powers,and its proposals to hold a constitutional convention. The Anglo-Saxonmisconception of federalism is analyzed, the role of a billof rights examined, and the failures of democratic legitimacyexposed with a view to see what contribution federal bargainsmay make to close the democratic deficit and to impel a reviewof the current institutional arrangements.     

TARGETING EFFICIENCY OF SOCIAL SECURITY PROGRAMS*

Abstract: The program budgeting and related reforms initiated by the Commonwealth in 1985 require federal departments and agencies to set objectives for their programs and to develop performance measures to assess the efficiency and effectiveness of these programs. This paper examines the targeting efficiency of Australia's social security programs and finds that these are among the most efficient of OECD countries.     

Chicago political economy: A public choice perspective

George J. Stigler (Ed.), Chicago studies in political economy. Chicago: University of Chicago Press, 1988. Pages xviii + 641.