The Logic of Bad Policies

Of course political self-interest and special interest lobbying lead to a host of lousy regulations.

Although many Americans are often bewildered by how so-called bad policies are consistently being pushed in Washington, economists have an explanation for this. Public choice, or the economics of politics, illuminates how it all comes about. By analyzing the choices of the relevant decision-makers from their perspective (i.e., taking into account their individual goals, opportunities and constraints.

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