Political bargaining among political elites often creates tensions that cause informal decision-making norms to break away from their original constitutional moorings. Government fiscal crises are an illuminating example of this dysfunctional dynamic.

Alexander William Salter is a Research Fellow at the Independent Institute and Associate Professor of Economics in the Rawls College of Business at Texas Tech University.
EconomyGovernment and PoliticsLaw and LibertyPolitical Theory
Other Independent Review articles by Alexander William Salter
Fall 2020 Malignant Monetary Monocentricity
Summer 2020 Ideologies, Institutions, and Interests: Why Economic Ideas Don’t Compete on a Level Playing Field
Fall 2018 Space Capitalism: How Humans Will Colonize Planets, Moons, and Asteroids
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