Economists typically treat government as something outside the business realm, a sort of “Lord of the Manor.” But can this view ultimately be destructive to capitalism and to society?
In his new book, ‘Politics as a Peculiar Business: Insights from a Theory of Entangled Political Economy,’ Richard E. Wagner argues that modern governments are a peculiar form of business enterprise and act within the system in a way that can lead to a parasitical relationship with the market. Wagner develops new theoretical ideas and formulations to explain why democracy is a difficult form of government to maintain. He explores how and why limited governments can morph into a system of destructive politics, and looks at ways to escape this process.
Richard E. Wagner is distinguished senior fellow of the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University. He is the Holbert L. Harris Professor of Economics at George Mason University.
Learn more at http://ppe.mercatus.org/peculiarbusiness