Reprinted in Edward C. Banfield, Here the People Rule: Selected Essays (Washington, DC: AEI, 1991).

Abstract:

In the ten years that have passed since Schumpeter published these words ridiculing James Mill’s Essay on Government, an extensive literature has appeared that attempts to do the very thing that Schumpeter said could not be done. This literature, the work of economists for the most part, applies an “economic approach” to the study of politics and government and aims to bring both “economic” and “political” phenomena within the compass of a “general equilibrium theory.”

Online:
AEI [pdf]
SpringerLink [pdf]