Tuesday, January 9, 2018

Public Choice Theory: Why Government Often Fails (Great Video)


This video outlines how choices and game theory play out among humans, whether they operate in the public sector or the private sector.

One finds in this comprehensive video why even the most well-intentioned reformers find that little good comes out of giving the government more control over key industries and services in a community.

Human beings are motivated by choices and incentives. The actions and decisions of lawmakers, elected officials, bureaucrats, and voters are many times motivated by a cost-benefits analysis.

Voting is a more costly exercise than most people realize. Working as a bureaucrat will deliver types of service compared to someone in the private sector. Find out what this matters, and what it matters specifically when it comes to politics and government.

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