The distinction between constitution, as the set of fundamental normative premises ensuring the cohesion of any given polity, and contract, as the formal covenant agreed upon by the relevant stakeholders in that polity, is central to political economy. This paper outlines a conceptual framework for the political economy of constitution based on the above distinction. Our argument is that constitution in the material sense, that is, as a relatively stable configuration of interests prior to formal arrangements, determines the way in which formal rules and procedures operate within a specific historical context. The paper develops the constitutionalist tradition towards a ‘constitutional heuristic’ that helps to detect feasible organisations of political-economic interests in society. Stratified social systems are rooted in multi-layered connectivity and provide a structure for organising partially overlapping interests beyond purely contractual covenants. This conception of constitution has far-reaching implications for economic policy because it charts a course beyond the dichotomy between consensus and conflict. The political economy of constitution focuses on the multiple interdependencies within the social domain, which give rise to substantive arrangements among stakeholders. This approach enables the identification of policy domains, thresholds and measures congruent with the material constitution of any given society.
The Political Economy of Constitution / Pabst, Adrian; Scazzieri, Roberto. - In: OECONOMIA. - ISSN 2269-8450. - STAMPA. - 6:3(2016), pp. 337-362. [10.4000/oeconomia.2433]
The Political Economy of Constitution
SCAZZIERI, ROBERTO
2016
Abstract
The distinction between constitution, as the set of fundamental normative premises ensuring the cohesion of any given polity, and contract, as the formal covenant agreed upon by the relevant stakeholders in that polity, is central to political economy. This paper outlines a conceptual framework for the political economy of constitution based on the above distinction. Our argument is that constitution in the material sense, that is, as a relatively stable configuration of interests prior to formal arrangements, determines the way in which formal rules and procedures operate within a specific historical context. The paper develops the constitutionalist tradition towards a ‘constitutional heuristic’ that helps to detect feasible organisations of political-economic interests in society. Stratified social systems are rooted in multi-layered connectivity and provide a structure for organising partially overlapping interests beyond purely contractual covenants. This conception of constitution has far-reaching implications for economic policy because it charts a course beyond the dichotomy between consensus and conflict. The political economy of constitution focuses on the multiple interdependencies within the social domain, which give rise to substantive arrangements among stakeholders. This approach enables the identification of policy domains, thresholds and measures congruent with the material constitution of any given society.File | Dimensione | Formato | |
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Pabst and Scazzieri The Political Economy of Constitution 2016 oeconomia-2433.pdf
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Descrizione: Versione elettronica saggio 'The Political Economy of Constitution', pubblicato nella rivista Oeconomia, 6 (3), 2016, pp.337-362
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