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Jan 15, 2025 | 
econlib.org | Richard B. McKenzie |Gordon Tullock |Scott Sumner |Jon Murphy
Elon Musk and Vivek Ramaswamy, co-chairs of President-Elect Donald Trump’s Department of Government Efficiency (DOGE) initiative, intend to reduce federal spending by $2 trillion (over an undisclosed time period), along with a substantial reduction in the federal workforce. Musk, Ramaswamy, and their army of unpaid volunteer cost-cutters will likely fall miserably short of their admirable goals—for reasons that have been developed among public-choice economists over decades.
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Sep 16, 2024 | 
onlinelibrary.wiley.com | Gordon Tullock
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Aug 2, 2024 | 
independent.org | Alexander William Salter |Gordon Tullock
Economics education has major problems. Doctoral programs are churning out applied mathematicians and statisticians with little to no knowledge of price theory. At the undergraduate level, social control (market failure!) and activism (inequality!) have replaced careful reasoning about markets and politics. Very few programs instill in students an appreciation for the power and universality of the economic way of thinking.
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Jul 30, 2024 | 
econlib.org | Alexander I. Salter |Gordon Tullock |Scott Sumner |Kevin Corcoran
Economics education has major problems. Doctoral programs are churning out applied mathematicians and statisticians with little to no knowledge of price theory. At the undergraduate level, social control (“market failure!”) and activism (“inequality!”) have replaced careful reasoning about markets and politics. Very few programs instill in students an appreciation for the power and universality of the economic way of thinking.
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Apr 1, 2024 | 
econlib.org | Pierre Lemieux |James M. Buchanan |Gordon Tullock |David Hume
A Liberty Classics Book Review of Against Politics: On Government, Anarchy, and Order, by Anthony de Jasay. We cannot be against politics, especially in a democratic regime; isn’t that obvious? In his 1997 book Against Politics: On Government, Anarchy, and Order, Anthony de Jasay led a frontal charge against this commonly accepted idea.
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Feb 20, 2024 | 
iea.org.uk | Gordon Tullock
The economics of politics applies the techniques of economic analysis (monopoly, competition, information costs, etc.) to political and bureaucratic behaviour. It drops the conventional assumption that politicians and bureaucrats try to serve only ‘the public interest’ and more realistically assumes that, as elsewhere, they try to serve their own interests by, for example, seeking re-election and empire-building. The vote motive in politics is the profit motive in industry.
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Oct 2, 2023 | 
econlib.org | Peter Boettke |Gordon Tullock |James M. Buchanan |Adam Smith
Sixty years ago, the Public Choice Society was founded by Gordon Tullock and James Buchanan, nearly coincident with the publication of their jointly authored book, The Calculus of Consent. A decade ago on the 50th occasion I was tasked with discussing the “Past, Present, and Future of Virginia Political Economy.” That paper (co-authored with Alain Marciano) was subsequently published in Public Choice.
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Oct 2, 2023 | 
mercatus.org | Peter Boettke |Gordon Tullock |James M. Buchanan |Elinor Ostrom
Sixty years ago, the Public Choice Society was founded by Gordon Tullock and James Buchanan, nearly coincident with the publication of their jointly authored book, The Calculus of Consent.1 A decade ago on the 50th occasion I was tasked with discussing the “Past, Present, and Future of Virginia Political Economy.” That paper (co-authored with Alain Marciano) was subsequently published in Public Choice.2 In it, Alain and I stressed the original impetus for the Thomas Jefferson Center for...
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Sep 4, 2023 | 
econlib.org | Richard B. McKenzie |Gordon Tullock
Fox News commentary host Tucker Carlson and CNN news anchor Don Lemon—both highly paid network stars for their audience ratings—were summarily fired during the same week in April 2023 for undisclosed reasons.
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Jun 27, 2023 | 
blog.independent.org | Caleb Fuller |Gordon Tullock
As I pointed out a few months ago, empirical studies of the minimum wage have a way of stepping into a host of price-theoretic potholes. Among these pitfalls, there’s one in particular that seems underdeveloped. It relates to the margins of adjustment. Gordon Tullock emphasized the endless margins of adjustment available to employers in the face of a minimum wage constraint. In Tullock’s account, an employer responds to the minimum wage by shutting off the factory-floor AC on a hot summer’s day.
