Economics is fun, part 17: Public choice

Along with insights from the Austrian economists, public choice economics is one of the cornerstones of many libertarians' economic worldviews. In today's episode of Economics is Fun, Madsen explains why public choice is so important. He equates public choice with the principal/agent issue in companies, namely that our representatives tend to grind their own axes instead of ours.

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A mansion built upon the sand

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Larger markets make us more fair to each other