Why This Blog?

There is an issue that– while extremely important today–receives little attention not only in the traditional media but also in the blogosphere, and academia: the subversion of competition by special interests. Following Adam Smith, the vast majority of economists believe that competition is the essential ingredient that makes a market economy work.

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From Mancur Olson to Bernie Sanders

Professor George Stigler, the Nobel Laureate (1982) who in some ways invented the idea of “regulatory capture,” and Professor Mancur Olson, who developed some of the most important ideas of “public choice,” are not around anymore. If they were alive today, they would probably be surprised to learn that the first politician in recent U.S. history to take their advice seriously and challenge them is a self-described socialist.

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Donald Trump, Crony Capitalist

The sleep of reason produces monsters, at least according to Spanish painter Francisco Goya. What happens when the political reason is intoxicated by vested interests and corrupt campaign financing? The monsters it produces are even more frightening. This is my interpretation of the rise of Donald Trump, as I write in my latest New York Times Op-Ed. 

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