The irrationality of politics

posted by
February 5, 2012
Liberale et Libertaire
by dL  
Posted in Commentary

"I apply a Public Choice methodology to model politics. Public Choice provides a positive, microeconomic model for the political process of redistribution. The essential dynamic of the model can be reduced to a government market for purchasing legal recognition as means to secure economic rents. In the literature this is referred to as 'rent-seeking.' The academic literature studies the effects and consequences of 'rent-seeking' on the the liberal democratic model. It is, however, a mistake to view the Public Choice model as 'libertarian.'" (02/04/12)

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