James M. Buchanan’s Contractual Theory and Serge-Christophe Kolm’s theory of ‘liberal social contract’ are both perspectives within the broader realm of social contract theory, but they have different emphases and implications.
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Here are the key differences between Buchanan’s Contractual Theory and Kolm’s theory:
Buchanan’s Contractual Theory:
- Emphasis on Process:
- Buchanan’s approach focuses on the process through which individuals come together to form a social contract. He emphasizes the procedures and rules that people follow when making collective decisions rather than the specific outcomes of those decisions.
- Public Choice Theory:
- Buchanan is associated with public choice theory, which applies economic reasoning to political decision-making. His contractual theory incorporates elements of public choice theory, considering how individuals, acting in their self-interest, engage in constitutional bargaining to establish rules for governance.
- Constitutional Economics:
- Buchanan’s contractual theory is part of constitutional economics, which examines the rules and institutions that shape the behavior of individuals and governments. The emphasis is on designing constitutions that create incentives for individuals to cooperate and maximize social welfare.
Kolm’s Theory of ‘Liberal Social Contract’:
- Focus on Justice:
- Kolm’s theory places a strong emphasis on justice and fairness in the social contract. It is concerned with ensuring that the outcomes of the social contract respect individual rights and lead to a just distribution of resources and opportunities.
- Equity and Redistribution:
- Unlike Buchanan’s focus on process, Kolm’s theory is more concerned with the substantive outcomes of the social contract. It explores how the principles of liberalism can guide the design of a social contract that promotes equity and may involve mechanisms of redistribution to address economic inequalities.
- Social Justice Functions:
- Kolm introduces the concept of “social justice functions,” which are mathematical representations of social preferences regarding the distribution of resources. These functions aim to capture societal views on what constitutes a fair distribution.
In summary, while both Buchanan’s Contractual Theory and Kolm’s theory of ‘liberal social contract’ fall within the social contract tradition, Buchanan’s approach emphasizes the procedural aspects and the role of constitutional rules, whereas Kolm’s theory focuses more on achieving substantive justice outcomes and addressing economic inequalities within the social contract.