Abstract

According to the assumption of the public‐choice theory, politicians are guided by their self‐interest and vote maximization. By analysing studies based on theories of the political business cycle, Leif Lewin provides evidence of predominance of public interest over self‐interest in politics. The author then proceeds to analyse the electoral strategies of European socialists supporting this argument. The facts presented clearly indicate that the image of the politicians as primarily vote‐maximizers has little empirical support.