Archive for June 7th, 2012

Politics and Markets: A Highly Misleading Analogy »

Proposition: Putative “public demand,” especially as expressed by voting, drives the political-governmental system. Elected officials and hence the bureaucracy subordinate to them may be viewed as perfect agents of the electorate. Adherence to this proposition characterizes the bulk of all analysis dealing with the growth of government in the West, regardless of analytical tradition…
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