President Donald Trump claimed Senators who voted against Obamacare’s replacement, the AHCA, had “let down Americans.”
The incentives politicians face reward the concentration and consolidation of power.
The incentive structure of the federal government needs adjusting.
In 1930, total government expenditure was 10% of GDP. Of that, approximately 3% was federal spending, and 7% was state and local spending. Today, government expenditure is about 40% of GDP, with 25% of that spending federal, and the remaining 15% state and local.
The following is the first installment in a five-part debate between Georgetown Professor Jason Brennan and Princeton Professor Philip Pettit on the merits of democracy as a system of social order.
Politics isn’t just bad; It’s the worst. It brings out the literal worst in people.