The limited rationality of democracy: Schumpeter as the founder of irrational choice theory

Critical Review 9 (3):301-324 (1995)
Abstract
Joseph Schumpeter's work has been all too selectively appropriated by public choice theorists. Schumpeter criticized the high level of rationality the classical model of democracy imputes to citizens, and he provided an alternative theory, inspiring rational choice theory and allowing for diverse forms of irrationality. Following in Schumpeter's footsteps I will discuss four problems: the deficient rationality of voters, politicians as ?political entrepreneurs,? leadership in democracy and the rise of the ?political class,? and the affinity between democracy and capitalism
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DOI 10.1080/08913819508443385
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References found in this work BETA
Ulysses and the Sirens.Jon Elster - 1986 - Philosophy and Public Affairs 15 (1):82-95.
The Cultural Contradictions of Capitalism.Daniel Bell - 1976 - Journal of Aesthetics and Art Criticism 35 (2):229-231.
L'évolution Créatrice.Henri Bergson - 1908 - Philosophical Review 17 (1):84-89.

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