Updated analysis of how the increasing polarization of American politics has been accompanied and accelerated by greater income inequality.The idea of America as politically polarized—that there is an unbridgeable divide between right and left, red and blue states—has become a cliché. What commentators miss, however, is that increasing polarization has been closely accompanied by fundamental social and economic changes—most notably, a parallel rise in income inequa...

How governmental failure led to the 2008 financial crisis—and what needs to be done to avoid another similar eventBehind every financial crisis lurks a "political bubble"—policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles—arising from a potent combination of beliefs, institutions, and interests—aid, abet, and amplify risk. Demonstrating how political bubbles helped create the re...

Political Game Theory is a self-contained introduction to game theory and its applications to political science. The book presents choice theory, social choice theory, static and dynamic games of complete information, static and dynamic games of incomplete information, repeated games, bargaining theory, mechanism design and a mathematical appendix covering, logic, real analysis, calculus and probability theory. The methods employed have many applications in various disciplines including co...

The 2016 election of Donald J. Trump invoked a time for reflection about the state of American politics and its deep ideological, cultural, racial, regional, and economic divisions. But one aspect that the contemporary discussions often miss is that these fissures have been opening over several decades and are deeply rooted in the structure of American politics and society. In Polarization: What Everyone Needs to Know® Nolan McCarty takes readers through what scholars know and don...

Can America Govern Itself? brings together a diverse group of distinguished scholars to analyze how rising party polarization and economic inequality have affected the performance of American governing institutions. It is organized around two themes: the changing nature of representation in the United States; and how changes in the political environment have affected the internal processes of institutions, overall government performance, and policy outcomes. The chapters in this volume ana...

The 2016 election of Donald J. Trump invoked a time for reflection about the state of American politics and its deep ideological, cultural, racial, regional, and economic divisions. But one aspect that the contemporary discussions often miss is that these fissures have been opening over several decades and are deeply rooted in the structure of American politics and society. In Polarization: What Everyone Needs to Know® Nolan McCarty takes readers through what scholars know and don...

The 2016 election of Donald J. Trump invoked a time for reflection about the state of American politics and its deep ideological, cultural, racial, regional, and economic divisions. But one aspect that the contemporary discussions often miss is that these fissures have been opening over several decades and are deeply rooted in the structure of American politics and society.In Polarization: What Everyone Needs to Know Nolan McCarty takes readers through what scholars know a...