Political Power and Economic Power: Political Theory in Stigler, Kingdon, and Duverger's Technodemocracy Hypothesis

Abstract

This article will explore the nature of the relations between interest groups and legislative actors according to two different theoretical approaches. First, we will look at elements of Stigler (1971) and his Economic Theory of Regulation in order to format a basic framework regarding the relations between political power and economic power in democracies. Next, we will address aspects of Kingdon (1984) that suggest a possible alternative pluralist model. Finally, we will raise Duverger’s (1975) “technodemocracy” hypothesis to discuss the validity of an evolutionary nexus between Stigler’s (1971) and Kingdon’s (1984) models.