INTRODUCTION

While much has been written on political extremes, little is theoretical, in economics or politics. Moreover, notwithstanding appearances, the term “extremism” is far from unambiguous. A conceptual chapter on this subject, sui generis, entails brainstorming, and delineation. As “necessity is the mother of invention,” so it will be here. Specifically, my charge is to determine what an economist, neoclassically trained, but with a more than passing understanding of the public choice canon, can contribute, qua economist, to our understanding of political extremes and political extremism. The discussion focuses, in the main, on the relevance of political extremes to modern democracies, in which they exist on the margins of politics; but the argument extends, as appropriate, to autocratic systems.

The place to begin is by searching out, conceptually, the meanings of these terms, often used loosely as synonyms for many things, sharing but the distaste of the observer. If nothing else, the concepts in question are decidedly relativistic. Neither moderation nor extremism can be assessed, much less judged, as simple rhetoric, absent a suitably defined reference point. To be meaningful they require contextual bounds. After all, what is reason to me may be irresponsibility to you. But this does not take us very far. Fortunately, moral absolutes lurk in the background.