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May 11, 2012

Schools of Thought in Classical Liberalism, Part 3: Public Choice

Government grows and grows. Why? Is there any way to limit government? Dr. Ashford explores the intellectual school known as “public choice.” Public choice theorists believe that politicians are self-interested, meaning they have a vested interest in growing government beyond its proper, limited size. This means that small, concentrated groups (like industry lobbying associations) yield tremendous power over the politics. This leads to subsidies and tax breaks for politically favored industries.

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