The Calculus of Consent

The Calculus of Consent is a framework developed by political economists James Buchanan and Gordon Tullock, analyzing how groups make decisions that affect everyone. It explores how to weigh the costs and benefits of different choices to reach agreements that are fair and efficient. Essentially, it provides a systematic way to understand the trade-offs in collective decision-making, such as voting or lawmaking, ensuring the best outcomes while respecting individual preferences. The goal is to create a decision process that balances individual rights and societal benefits effectively.