The Public Choice Challenge

The Public Choice Challenge

Back in 2016, I shared three videos to explain the theory of “public choice,” which is simply the application of economic principles to understand the self-interested behavior of politicians, bureaucracies, and voters. Wonky readers will enjoy...
What Is “Rent Seeking”?

What Is “Rent Seeking”?

I’ve written columns about wonky economic concepts such as “deadweight loss” and “public goods.” Today’s topic is “rent seeking,” which is part of “public choice” and is described by Professor Alex Tabarrok of George Mason University. To elaborate, here’s a video from...