ABSTRACT
Very few economists would deny that freedom of choice constitutes a pillar of rational choice, which in turn is a pillar of economic theory, regardless of the definition of rational choice one adopts. On the other hand, free choice in economics seems senseless without political freedom of choice. Democracy, therefore, plays an important role in economic efficiency as much as in social fairness. Following this line of thought, one might expect that economics, both in theory and in practice, should permanently strengthen the role of democracy in its institutional construction. Unfortunately, this does not seem to be the case.
