Constitutional Economics

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Constitutional economics is a research program in economics and constitutionalism that has been described as extending beyond the definition of 'the economic analysis of constitutional law' in explaining the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents." This is distinct from explaining the choices of economic and political agents within those rules, a subject of "orthodox" economics. Constitutional economics studies the "compatibility of effective economic decisions with the existing constitutional framework and the limitations or the favorable conditions created by that framework." It has been characterized as a practical approach to apply of the tools of economics to constitutional matters. For example, a major concern of every nation is properly allocated of available national economic and financial resources.