January 11, 2013
— Ace From CBD in the sidebar, Buchanan developed a theory which probably strikes you now as common sense but at one time was controversial.
The economic school he founded, known as public-choice theory, casts a skeptical eye on government officials and bureaucrats and points out that their work might serve the public less than a very private enterprise.
Previously economists had not studied the operations of government (at least not using the economic tools and assumptions of each person seeking to maximize his own wealth/power), believing government to be outside the scope of economic analysis. This cleared the field, at least intellectually, for political scientists to consider public policy choices in the same terms that politicians described them, that is, sanctimoniously, romantically, with the assumption that any public policy choice was about "the good."
Buchanan rejected that and applied the assumptions of economics -- political actors are self-concerned and act to maximize their own position -- and thus demystified and demythologized the Great Men of Politics, as conventional academic thought would term them.
I have always wondered whether Buchanan turned to the study of sanctimonious government officials and their interests because he spent time in graduate school on the South Side of Chicago in the late 1940s (the neighborhood where I was later born). Hyde Park was lively, but uneven. Little shops along 55th Street, just north of the university, might thrive, but poor black migrants crowded together in apartments with insufficient heat during the cityÂ’s tough winters.Buchanan earned his doctorate in 1948, about the time the politicians and other civic leaders promised that bulldozing large swaths of the neighborhood and creating new public-private projects would yield a better Hyde Park, prettier and more racially integrated.
But the result felt wrong, especially to residents. The new apartment buildings, in the minimalist international style, themselves felt as cold as winter. Instead of bringing people together, they separated them: One complex quickly became known as Monoxide Island. With the stores gone, there was less life on the streets. Yet Hyde Park locals lacked the vocabulary to criticize the transformation we had been told was progress or reform. Who wants to be construed as “pro-slum”?
Buchanan supplied that vocabulary. Instead of calling urban renewal “reform,” as the officials did, he called it “politics.” It was important, he said, that all such projects, whether urban renewal in Chicago or elsewhere, be viewed honestly, that we look at “politics without romance.”
The housing redevelopment in Hyde Park worked to the advantage of certain interest groups, political or business. Yet the high-and-mighty tone of the anti-slum language masked something. No party involved was any better or any worse than anyone else: They were all pursuing their own interests. Politicians often promoted such ugly ambitious projects not because the projects were good. They did so because the projects enabled politicians to award contracts to important campaign donors.
It seems an obvious point now -- so obvious it doesn't even seem like it needs a full-fledged economic theory to support it -- but in fact he had to depart one university (the University of Virginia) because his heresies bothered the other professors there, who were thralls in the Cult of the Kennedys.
Per Wikipedia, the concept of "rent-seeking" flowed out of the public-choice school (though I don't know if Buchanan himself developed it, or if it was developed by other economists working on the theory):
A field that is closely related to public choice is "rent-seeking". This field combines the study of a market economy with that of government. Thus, one might regard it as a "new political economy." Its basic thesis is that when both a market economy and government are present, government agents provide numerous special market privileges. Both the government agents and self-interested market participants seek these privileges in order to partake in the resulting monopoly rent. When such privileges are granted, they reduce the efficiency of the economic system. In addition, the rent-seekers use resources that could otherwise be used to produce goods that are valued by consumers.
Again, very obvious... in retrospect. But there once was a world in which liberal academics took the claims of liberal politicians at face value.
Um.... I guess it's the same today. So putting it a different way: There once was a world in which liberal academics took the sanctimonious claims of liberal politicians at face value, and wasn't even any minority, contrarian theory to oppose them.
Posted by: Ace at
08:44 AM
| Comments (130)
Post contains 756 words, total size 5 kb.
Posted by: Cicero (@cicero) at January 11, 2013 08:52 AM (QKKT0)
Posted by: Barack Obama at January 11, 2013 08:52 AM (xHJIm)
I thought you were talking about James Buchanan, the 15th President. I was surprised he was still alive.
Yet Abe Vigoda lives.
Posted by: Libtardo at January 11, 2013 08:53 AM (YmPwQ)
Posted by: HeatherRadish™ at January 11, 2013 08:53 AM (ZKzrr)
Government project always benefit government bureaucrats and their cronies.
The aim is also to get the politicians reelected.
If anything good comes out of a government project it is an accident
As a result all government projects are shit. And it is shit that can't even be used for fertilizer.
Posted by: Vic at January 11, 2013 08:54 AM (53z96)
Posted by: rickb223 at January 11, 2013 08:58 AM (uWX7W)
Posted by: Count de Monet at January 11, 2013 08:59 AM (BAS5M)
7...If anything good comes out of a government project it is an accident
At least with the CCC projects, we were left with all those cute little stone bridges and rock cabins that are still useful today.
Posted by: wheatie at January 11, 2013 08:59 AM (fH4X9)
Posted by: Empire of Jeff at January 11, 2013 09:02 AM (whARQ)
Watch yer back, and keep an eye on local government.
Posted by: jeanne at January 11, 2013 09:03 AM (GdalM)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:03 AM (VtjlW)
Posted by: Count de Monet at January 11, 2013 12:59 PM (BAS5M)
Adam Smith condemned the British policy of Mercantilism. We do not have that. What we have is crony corruption,
FOOB give his campaign money, he directs government loans and grants to them on the order of ten to 100 times more than their "gifts".
The same thing occurs in congress with BOTH parties. Washington is a corrupt cesspool.
Posted by: Vic at January 11, 2013 09:05 AM (53z96)
Posted by: Leviathan at January 11, 2013 09:05 AM (XvHmy)
Posted by: Empire of Jeff at January 11, 2013 01:02 PM (whARQ)
Nor mostly anybody else.
Posted by: tubal at January 11, 2013 09:06 AM (BoE3Z)
Posted by: #6 at January 11, 2013 09:07 AM (KHo8t)
I've never heard the formal definition of "rent-seeking".
That's awesome.
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 09:09 AM (GQ8sn)
Posted by: wheatie at January 11, 2013 12:59 PM (fH4X9)
What was that; 75 years ago? Notice in our last "stimulus" to lift us out of the latest depression we got none of those projects. What we got was pay offs to the FSA that were gone as soon as the checks could be cashed at the closest liquor store.
Posted by: Vic at January 11, 2013 09:09 AM (53z96)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:09 AM (VtjlW)
Posted by: BS Inc. at January 11, 2013 09:10 AM (eP0u9)
Posted by: Jones in CO at January 11, 2013 09:11 AM (8sCoq)
I soon found that public-choice theory explained everything: ParkinsonÂ’s Law, the tendency of bureaucracy to create more work for itself. Health officialsÂ’ interests in testing small childrenÂ’s blood for lead made sense when one considered that finding poisoned children validated their jobs.
We needed this last week on the lead thread.
Posted by: Tami at January 11, 2013 09:11 AM (X6akg)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:11 AM (VtjlW)
Human beings are selfish, fallen creatures whose natural tendency is to beat each other to death with rocks.
Why, that's ridiculous. Of course humans are intrinsically wonderful. That's why the breakdown of police and social structures leads to perfect harmony. Kinda like prisons in that respect. Noble savages, comin' and goin'.
Posted by: Jay Guevara at January 11, 2013 09:12 AM (DXlwL)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 01:09 PM (VtjlW)
Put her in charge, man!
Posted by: Private Hudson at January 11, 2013 09:12 AM (BAS5M)
Posted by: Jones in CO at January 11, 2013 01:11 PM (8sCoq)
In that series Grant was the President. And remarkably before Obama came along he had the most corrupt administration in history.
Posted by: Vic at January 11, 2013 09:12 AM (53z96)
Posted by: Brother Cavil, High Priest of the Gods of the Copybook Headings at January 11, 2013 09:13 AM (GBXon)
How about all the Obamaphone recipients and EBT card users be employed for this task.
That's a stimulus plan I could get behind.
Posted by: Jane D'oh at January 11, 2013 09:13 AM (UOM48)
Posted by: Ends With Prepositions And Fists at January 11, 2013 09:14 AM (I4o0Z)
Posted by: Brother Cavil, High Priest of the Gods of the Copybook Headings at January 11, 2013 09:15 AM (GBXon)
Posted by: Caustic at January 11, 2013 09:15 AM (/b8+5)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:15 AM (VtjlW)
In fairness, if this work focuses on the effects of high heels, - as it relates to the biomechanics of enhanced female sexuality, - maybe not all is lost.
Posted by: Fritz at January 11, 2013 09:16 AM (w3+gB)
Posted by: Vic at January 11, 2013 01:12 PM (53z96)
I was wondering if the series was pre- or post Civil War
and I thought (insert Republican President's name here) was the most corrupt in history
Posted by: Jones in CO at January 11, 2013 09:17 AM (8sCoq)
Health officialsÂ’ interests in testing small childrenÂ’s blood for lead made sense when one
considered that finding poisoned children validated their jobs.
This. I raised this point in debating a liberal about global warming. Suppose researchers investigate this or any other purported threat, and find bupkis. What are they going to say, "Hey, no problem. Everybody back to what you were doing. Everything's under control here. No need for grants or further study."
In essence, we're asking the barber whether we need a haircut.
Posted by: Jay Guevara at January 11, 2013 09:18 AM (DXlwL)
Posted by: Empire of Jeff at January 11, 2013 09:18 AM (whARQ)
Posted by: Jakeman at January 11, 2013 09:18 AM (0skhb)
The series is set during the presidency of Ulysses S. Grant, 1869–77; occasional episodes indicate a more precise date.
Posted by: Vic at January 11, 2013 09:19 AM (53z96)
Posted by: toby928© for TB at January 11, 2013 09:20 AM (evdj2)
Posted by: Gristle Encased Head at January 11, 2013 09:20 AM (+lsX1)
Posted by: Empire of Jeff at January 11, 2013 09:20 AM (whARQ)
wtf is a tire sensor
Posted by: Jones in CO at January 11, 2013 09:21 AM (8sCoq)
Posted by: awkward davies at January 11, 2013 09:21 AM (USjX1)
Posted by: AmishDude at January 11, 2013 09:22 AM (T0NGe)
Now we have the benefits of longer history, better data collection and analysis tools, and extremely low barriers to publishing your findings.
Of course, we also have the Karashians.
So, overall, a wash.
Posted by: Jay Guevara at January 11, 2013 09:23 AM (DXlwL)
Posted by: Jones in CO at January 11, 2013 01:21 PM (8sCoq)
On my car the light looks like this on the dashboard (!)....with a loud, annoying sound that means, 'get yer ass to an air hose quick, bitch.'
Posted by: Tami at January 11, 2013 09:23 AM (X6akg)
Posted by: Jakeman at January 11, 2013 09:24 AM (0skhb)
I will not lie. A long time ago, I watched Clarissa Explains It All and thought to myself, "this chick is going to grow up to be a hawttie".
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 09:24 AM (GQ8sn)
Posted by: rickb223 at January 11, 2013 09:24 AM (uWX7W)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:25 AM (piMMO)
Yes. They can tell you exactly what the PSI in each tire is.
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 09:25 AM (GQ8sn)
Posted by: Matt Damon at January 11, 2013 09:26 AM (msPO3)
59 From the sidebar: MJH, "Where are the binders full of women now?"
And I think that Ace gets extra points for using the word....'Phallocentric'.
Posted by: wheatie at January 11, 2013 09:26 AM (fH4X9)
Posted by: Vic at January 11, 2013 09:27 AM (53z96)
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 01:25 PM (GQ8sn)
I wish mine would tell me which tire has which pressure. It just list 4 tire pressures....no designation. LF, RF, LR, RR would be helpful.
Posted by: Tami at January 11, 2013 09:27 AM (X6akg)
They showed that the costs associated with forging agreement go up with the percentage of the nation that is required to agree, but that the costs imposed by the resulting legislation goes down. Costs are measured, in principle, from the standpoint of individuals.
Their seminal book, The Calculus of Consent, is available online at the Library of Economics and Liberty.
Buchanan got the Nobel in econ for his troubles.
Posted by: Enby at January 11, 2013 09:27 AM (ptlfZ)
Posted by: Jones in CO at January 11, 2013 09:27 AM (8sCoq)
So I guess common sense in this nation has been slipping away for a long time. Strange that the populace won't believe anything unless it's said by an "academic". It's being ratcheted up to the elevens in the last ten or so years.
Posted by: Soona at January 11, 2013 09:28 AM (MxYml)
Posted by: Roland THTG at January 11, 2013 09:28 AM (I7O5y)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:28 AM (piMMO)
I wish mine would tell me which tire has which pressure. It just list 4 tire pressures....no designation. LF, RF, LR, RR would be helpful.
Your car's manual should explain which number goes to which tire.
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 09:28 AM (GQ8sn)
Yup we need an article V convention....
and we need the will to fire EVERY Pol who thwarts it.
The leftoids will never allow it.
Posted by: sven10077 at January 11, 2013 09:28 AM (LRFds)
Guess this is a good place to repost the article about Obama's history as a supporter of slumlord developers:
Grove Parc and several other prominent failures were developed and managed by Obama's close friends and political supporters. Those people profited from the subsidies even as many of Obama's constituents suffered. Tenants lost their homes; surrounding neighborhoods were blighted.
_____
The article says he intends to establish an Affordable Housing Trust which will distribute $500 million dollars to developers for public housing projects. That initiative must have been shelved, or this particular Globe article would have been disappeared.
Posted by: kallisto at January 11, 2013 09:29 AM (jm/9g)
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 01:28 PM (GQ8sn)
You mean RTFM?! The deuce you say?!
Posted by: Tami at January 11, 2013 09:29 AM (X6akg)
Can you measure while driving at the same time?
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 09:29 AM (GQ8sn)
because Congress would have to pass it
or it would take a Constitutional amendment
hit me with some knowledge, moron shysters
Posted by: Jones in CO at January 11, 2013 09:29 AM (8sCoq)
Hmm...
Trying to think of a way to use the words...'thrall'...and 'phallocentric'...in the same sentence...
Posted by: wheatie at January 11, 2013 09:29 AM (fH4X9)
http://tinyurl.com/a8r6sbp
Guess which state? Correct answer wins a cookie.
Posted by: Jane D'oh at January 11, 2013 09:29 AM (UOM48)
The caveman's assault weapon of choice.
http://tinyurl.com/amyb37t
Posted by: Buzzsaw at January 11, 2013 09:30 AM (81UWZ)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:30 AM (piMMO)
Posted by: Tami at January 11, 2013 01:27 PM (X6akg)
------------------------------------------------
My HHR (pre-gov't motors) does. It is pretty cool to have.
Posted by: Soona at January 11, 2013 09:30 AM (MxYml)
On my car, I get a message on the dash that says low tire. I look at the dashboard reading of my four tires to see which one is low or skip that step and go to Lexus and tell them I have a low tire and let them figure it out. I switched to nitrogen instead of air in the tires and it has eliminated the sensitivity to air temp issue that these tire sensors can have.
Posted by: Sherry McEvil, Wily Wrepublican Wench at January 11, 2013 09:30 AM (kXoT0)
I know...I know...I mean it's the only place you could theoretically find the answer!
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 09:30 AM (GQ8sn)
Posted by: AmishDude at January 11, 2013 09:30 AM (T0NGe)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:31 AM (piMMO)
Can you measure while driving at the same time?
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 01:29 PM (GQ8sn)
No, I employ a somewhat more radical method, which I call Looking At The Tires And Checking The Pressure Myself From Time To Time
Posted by: Jones in CO at January 11, 2013 09:31 AM (8sCoq)
My sister who lives in Catoosa has an HHR and she was really bummed when they stopped production.
Posted by: Sherry McEvil, Wily Wrepublican Wench at January 11, 2013 09:31 AM (kXoT0)
http://tinyurl.com/a8r6sbp
Guess which state? Correct answer wins a cookie.
Posted by: Jane D'oh at January 11, 2013 01:29 PM (UOM4
----------------------------------------------------
Florida, of course.
Posted by: Soona at January 11, 2013 09:31 AM (MxYml)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:32 AM (VtjlW)
Posted by: Empire of Jeff at January 11, 2013 09:32 AM (whARQ)
Posted by: AmishDude at January 11, 2013 09:33 AM (T0NGe)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:34 AM (VtjlW)
http://youtu.be/6Ch1VlmzXMQ
Posted by: Empire of Jeff at January 11, 2013 01:32 PM (whARQ)
LOL!
Fuck you....I'm a brunette.
Posted by: Tami at January 11, 2013 09:34 AM (X6akg)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:34 AM (piMMO)
55 wait- the tire tells the driver what the tire's pressure is?
------------
Problem is that it also serves as a homing beacon telling The Man where you are at all times. And The Man can correlate readings from your car to determine when and where you were speeding.
Posted by: Citizen Anachronda has a tinfoil hat and is not afraid to use it at January 11, 2013 09:34 AM (IrbU4)
*cues up Dick Dale and the Del-Tones*
Posted by: EC Works For Dick Jones....DICK JONES!!! at January 11, 2013 09:35 AM (GQ8sn)
http://youtu.be/6Ch1VlmzXMQ
BlondeStar my ass. My husband locked his keys in his SUV a couple of years ago and called me in a panic to get back to the house with my set of keys so he wouldn't be late for a meeting.
I calmly reminded him of OnStar.
Posted by: Jane D'oh at January 11, 2013 09:35 AM (UOM48)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 01:32 PM (VtjlW)
-----------------------------------------------
I was first with the answer. Chompy can eat......well....you know.
Posted by: Soona at January 11, 2013 09:35 AM (MxYml)
The fact that you don't find this topic interesting is not surprising as you also believe that the President can order the Secretary of the Mint to mint, assign a monetary value, and hand over to the President a trillion dollar coin to use for his own purposes.
Posted by: General Woundwort at January 11, 2013 09:36 AM (RrD4h)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:36 AM (VtjlW)
Posted by: t-bird at January 11, 2013 09:36 AM (FcR7P)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:36 AM (piMMO)
Am I the only one who really, really hopes we get some hilarious video out of the hunt?
Posted by: Jane D'oh at January 11, 2013 09:37 AM (UOM48)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:37 AM (piMMO)
I think we should have it on two weekends.
Weekend one the part time hunters and the timmy treadwell types.
Week 2 serious folk.
Posted by: sven10077 at January 11, 2013 09:38 AM (LRFds)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 01:36 PM (VtjlW)
-------------------------------------------
Ain't afraid of no raptor. I has ginzu skillz.
Posted by: Soona at January 11, 2013 09:39 AM (MxYml)
Posted by: Empire of Jeff at January 11, 2013 09:39 AM (whARQ)
Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 11, 2013 09:39 AM (VtjlW)
Posted by: Niedermeyer's Dead Horse at January 11, 2013 09:39 AM (piMMO)
Posted by: BlueStateRepub at January 11, 2013 09:42 AM (7ObY1)
A few days ago there was a different type of hunt in the Everglades as rescue organizations went out to save dozens of former pets which had been abandoned there.
It made me sick to think of it. There's no telling how many have perished there.
Posted by: Niedermeyer's Dead Horse at January 11, 2013 01:39 PM (piMMO
I read about that. Made me sick. Even abandoning horses. These are the same idiots who purchase pet snakes and then release them into the Everglades when they get too big.
Evil bastards.
Posted by: Jane D'oh at January 11, 2013 09:43 AM (UOM48)
Posted by: Enby at January 11, 2013 09:43 AM (ptlfZ)
Posted by: Enby at January 11, 2013 01:43 PM (ptlfZ)
I believe you're look for Tammy, not Tami.
Posted by: Tami at January 11, 2013 09:48 AM (X6akg)
Posted by: Mr. Dave at January 11, 2013 09:49 AM (WcIpj)
Posted by: buzzion at January 11, 2013 09:50 AM (GULKT)
A python hunting competition starting on Saturday is drawing hundreds of amateurs armed with clubs, machetes and guns to the Florida Everglades, where captured Burmese pythons have exceeded the length of minivans and weighed as much as grown men.
Posted by: Jane D'oh at January 11, 2013 09:57 AM (UOM48)
Ladeez and gentlemorons, presented for your edification, an aerial view of Monoxide Island:
http://preview.tinyurl.com/a65vtmc
I attended college in Hyde Park. I'd heard it referred to as "Monoxide Towers", but "Monoxide Island" is actually more descriptive.
And on the right side there, where the roads merge, is one of the ugliest damn statues you've ever seen.
At least there was twenty years ago.
I used to have fantasies of buying a cheap old junker car and ramming the damn thing with it. For the good of humanity.
Posted by: Lewis at January 11, 2013 10:04 AM (Y3uPw)
Posted by: Lewis at January 11, 2013 10:06 AM (Y3uPw)
Posted by: Sawbuck at January 11, 2013 03:23 PM (OmfkQ)
That's what you get for observing that water is wet, and fire is hot.
Posted by: JewishOdysseus at January 11, 2013 08:34 PM (FWwQD)
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Posted by: wheatie at January 11, 2013 08:49 AM (fH4X9)