Monday , May 17 2021
Home / Tim Worstall /That public choice concept gains another proving

That public choice concept gains another proving

Summary:
A proof as in a test of the veracity rather than an insistence upon it:Specifically, “bad” outcomes, such as apartment blocks being built (which locals oppose) or school closures, are significantly less likely in neighbourhoods where politicians from a local ruling party live (compared with areas where local opposition politicians live). The effect is large: when a party wins power it leads to a 19 percentage-point fall in the chance of proposed school closures in areas where politicians from that party live.The authors say this is a sign that favouritism drives decisions and surprising to find in Sweden, with one of the world’s lowest corruption levels. Some might now want to break out the champagne when an MP moves next door but I’m old fashioned. Maybe it shows why we should care about

Topics:
Tim Worstall considers the following as important:

This could be interesting, too:

Tyler Durden writes Former Professor Sentenced To 37 Months In Prison For Using Federal Grants To Aid China’s Medical Research

Tyler Durden writes 48 Shot, Including 2 Police Officers In Another Out Of Control Chicago Weekend

Tyler Durden writes New Video Reveals Capitol Police Officer Giving Protesters Permission To Enter Building

Tyler Durden writes “Where’s My Wife’s Car?”: UFC Star Beneil Dariush Calls Out Elon Musk After His Fight On UFC 262

A proof as in a test of the veracity rather than an insistence upon it:

Specifically, “bad” outcomes, such as apartment blocks being built (which locals oppose) or school closures, are significantly less likely in neighbourhoods where politicians from a local ruling party live (compared with areas where local opposition politicians live).

The effect is large: when a party wins power it leads to a 19 percentage-point fall in the chance of proposed school closures in areas where politicians from that party live.

The authors say this is a sign that favouritism drives decisions and surprising to find in Sweden, with one of the world’s lowest corruption levels. Some might now want to break out the champagne when an MP moves next door but I’m old fashioned. Maybe it shows why we should care about them failing to live up to important ideals of public service, even if they’re not technically corrupt.

Public choice economics is simply the observation that politicians and their bureaucrats are humans like the rest of us. As such they are incentivised by their own self-interest along some spectrum of purely selfish to enlightened.

The corollary of this contention being true is that we should give politicians - and bureaucrats - minimal control over our lives so as to reduce the portion of it subject to their self-interest. That is, minarchy is the solution to the problem that we are all human, yea even those who rule over us.

Media enquiries: 07584 778207 (Call only, 24 hour)

Tim Worstall
Tim Worstall is a British-born writer and Senior Fellow of the Adam Smith Institute. Worstall is a regular contributor to Forbes and the Register. He has also written for the Guardian, the New York Times, PandoDaily, the Daily Telegraph blogs, the Times, and The Wall Street Journal. In 2010 his blog was listed as one of the top 100 UK political blogs by Total Politics.

Leave a Reply

Your email address will not be published. Required fields are marked *