A Reflection on the Transaction-Cost Politics and Its Development:An Exposition of the Transaction-Value Theory
The transaction-cost theory attempts to explain the diverse and complicated political and social phe-nomena by using the single economic indicator"cost", an approach that inherently has limitations. To attempt to solely apply a single economic value goal of cost minimization to the explanation of the public sphere that is more complex is not only one-sided and narrow but also even fundamentally logically self-consistent, let alone the capability of guiding practices in the public sphere. Political and administrative issues in the public sphere need to return to the level of value rationality and the interpretive system of public value should be applied . The transaction-value theory holds that transactions in the public sphere should be a process of reconciling , rank-ing, and identifying public values, with the ultimate goal of achieving the optimal public value compatible with the transaction behavior. Public governance is, in fact, a process of the transaction and achievement of public value.
transaction costtransaction-cost politicstransaction-value theorypublic value
万方数据
维普
