Still, rather than get into the argument of what the book is really trying to say I'd just note that what is happening in reaction is that the study of public choice and of rent seeking is being discussed more avidly than it has been for a long time.Īn example of this is Don Boudreaux talking about his former colleague, Gordon Tullock:Įconomists have long understood that people with special privileges – say, producers protected from foreign competition by tariffs – act in ways that generate outcomes that are less valuable than are the outcomes that would be generated in the absence of such privileges. Quite how anyone could come to believe that the observation that politicians have economic motives-which is what public choice theory really says, that they have the same regard to economic self-interest as the rest of us-means that in fact you're a racist opposed to the desegregation of schools is difficult to work out. The classically liberal wing of the economics profession has been rather blindsided by Nancy MacLean's recent book, Democracy in Chains.
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