Log Rolling as an Explanation of Distortions All Round: A Model à la Buchanan and Tullock

Abstract

Since at least the time of Adam Smith, economists have been alive to the vision of a relatively small number of ‘special interests’ benefiting themselves at the expense of the public weal. But distortions are today so endemic, it is tempting to say that every interest manages to secure that status of special interest, and receives some ‘distortion’ in its favour. But, however credible this scenario of ‘universal distortions’ may be, can it be provided a rigorous and well‐articulated modelling in terms of maximising choices, under a specified institutional structure? Can Public Choice suggest such a modelling? Can, in particular, the Public Choice theorising of ‘log rolling’ do so?