In explaining individual behavior in politics, economists should rely on the same
motivational assumptions they use to explain behavior in the market: that is what Political
Economy, understood as the application of economics to the study of political processes, is
all about. In its standard variant, individuals who play the game of politics should also be
considered rational and self-interested, unlike the benevolent despot of traditional welfare
economics. History repeats itself with the rise of behavioral economics: Assuming cognitive …