President Donald Trump claimed Senators who voted against Obamacare’s replacement, the AHCA, had “let down Americans.”
The incentives politicians face reward the concentration and consolidation of power.
The incentive structure of the federal government needs adjusting.
In 1930, total government expenditure was 10% of GDP. Of that, approximately 3% was federal spending, and 7% was state and local spending. Today, government expenditure is about 40% of GDP, with 25% of that spending federal, and the remaining 15% state and local.
The following is the first installment in a five-part debate between Georgetown Professor Jason Brennan and Princeton Professor Philip Pettit on the merits of democracy as a system of social order.
Politics isn’t just bad; It’s the worst. It brings out the literal worst in people.
The really radical idea behind the rule of law is that the lawmakers themselves are not above the law. It is “the law” that rules, not those who make and enforce the law.
A perennial complaint about democracy in America is that too large a portion of the electorate is poorly informed about important political issues. This is the problem of the ignorant voter. This problem was exacerbated in the current presidential election cycle by the large number of candidates vying for the Republican nomination that made keeping […]
I have been making a mistake for most of my life. See, I’m an economist, and one of the things that attracted me to economics is the notion of the “ideal economy.” Of course, there are valid objections to the use of markets. There are people who cheat and commit fraud, and there are problems […]