This book is an introduction to the logic and analytics of group choice. To understand how political institutions work, it is important to isolate what citizens as individuals and as members of society actually want. This book develops a means of representing the preferences of citizens so that institutions can be studied more carefully. This is the first book to integrate the classical problem of constitutions with modern spatial theory, connecting Aristotle and Montesquieu with Arrow and Buchanan."
I was looking for an introduction to public choice theory because I was assigned to speak on it for my history of economic thought class. Someone on twitter pointed me to the original version of this book, and through the magic of twitter, Munger himself saw the tag and then pointed me to the second edition.
Though it was interesting to read – it is more of a text book and wasn’t exactly what I was looking for as an introduction. The Adam Smith Institute has a better high-level overview that I used that had fewer charts and graphs and math (sorry Munger).
Useful analytics in studying political science and group choice with many variables. Well written and easy to comprehend, even for those with minimal statistical/methods training. Strongly recommend for any interested in the calculus behind group choice and how it applies in reality.