You are reading Economic Forces, a free weekly newsletter on economics, especially price theory, without the politics. Economic Forces arrives weekly in the inboxes of over 10,000 subscribers. You can support our newsletter by sharing this free post or becoming a paid subscriber:
“ What McCormick, Shughart, and Tollison argued is that if Tullock’s argument is correct, then rent-seeking is a sunk cost.”
This fabulously blended paraphrase is worth the price of admission. I probably has this packed away in my brain as a rats nest, but here you go, as usual, making things eloquently easy. :)
Minor typo: In the 3rd paragraph under Crime on the Court, I think “If more policy...” should be “If more police...”
Fixed. Thanks!
“ What McCormick, Shughart, and Tollison argued is that if Tullock’s argument is correct, then rent-seeking is a sunk cost.”
This fabulously blended paraphrase is worth the price of admission. I probably has this packed away in my brain as a rats nest, but here you go, as usual, making things eloquently easy. :)
Thanks!