Public Choice

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    Regulatory capture, the hidden cronyism

    The captured regulator is a pernicious failed safeguard against cronyism that cloaks corruption in the guise of government oversight.
    Jon Sanders, February 11, 2020
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    More on Public Choice: Decisions are made by human beings

    Last week I wrote a post on "Cronyism and public-choice problems." I realized I kept discussing the term without providing much background on it. Here's more on a very important insight in economics.
    Jon Sanders, April 25, 2019
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    Cronyism and public-choice problems

    On occasion, when discussion another example of cronyism, I have called it a "public-choice problem." What does that mean?
    Jon Sanders, April 17, 2019
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    John Goodman on the late James Buchanan, public choice, and government failure

    Goodman’s opening paragraph: James Buchanan died the other day and in the eyes of many he was the father of Public Choice economics. Comments on a number of blogs reveal two things about bloggers on the left: (1) they don’t understand what contribution Buchanan made and (2) they don’t…
    Jon Sanders, January 14, 2013
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    Obamaphone

    This week I saw this video from Cleveland. It was linked to an article in the Dayton Daily News about the national Lifeline program, aka Obamaphone, and it perfectly illustrates what’s known as public choice theory. First, a quick explanation of the theory.  Essentially, this woman, and…
    Julie Tisdale, October 3, 2012