The primary driver of government failure is political economy—interest groups and rent-seeking—rather than mere incompetence; this is often not classic regulatory capture but broader well-organized lobbying for protection or government expenditures, and America is increasingly effective at lobbying with high returns.

causalpending

Speaker

Clifford Winston

Evidence Quote

the political economy is is really what's driving an awful lot of these things

Source

Clifford Winston on Market Failure and Government Failure 12/28/2009EconTalk
Created: 6/15/2026, 9:37:54 AM

My Notes

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