Discussion paper

DP16695 Without liberty and justice, what extremes to expect? Two contemporary perspectives

From a wide-ranging historical survey, Acemoglu and Robinson conclude that the preservation of liberty depends on being in a ‘narrow corridor’ where there is a balance of power between the state and society. We first examine the support Binmore's game-theoretic treatment of Social Contracts provides for such a ‘narrow corridor’ of liberty and justice – and what extremes to expect without them. We also consider how the biological model of Competing Species helps to describe the dynamics of conflicting powers outside the narrow corridor– where, as in contemporary Russia and China, any Social Contracts that exist are neither free nor fair.

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Citation

Miller, M and (eds) (2021), “DP16695 Without liberty and justice, what extremes to expect? Two contemporary perspectives”, CEPR Press Discussion Paper No. 16695. https://cepr.org/publications/dp16695