In the competition for a monopoly right in which the number of bidders is fixed, Tullock and others have found the value of the resources spent in the aggregate to capture the transfer to be sometimes less than and sometimes greater than the value of the monopoly. We think this approach to be...

The conventional (Chicago) wisdom about the Great Contraction is that it was the result of a massive policy failure. According to this view, the collapse of the economy was brought about mostly by the fact that the monetary policymakers of the day were more concerned with internal power...

During the first seven years (1979–1985) of Kenya's second head of state, the process of establishing a stable supporting coalition was accompanied by rapid increases in government spending. As evidenced by continued increase in the size of the cabinet as announced in early 1988, the process...

Hurricane Katrina revealed massive governmental failure at the local, state and federal levels. This commentary brings the modern theory of property rights and public choice reasoning to bear in explaining why officials failed to strengthen New Orleans's levee system despite forewarning of its...

An FBI investigation of county purchasing activities in the mid 1980s resulted in the conviction of 55 of Mississippi's 410 county supervisors. Analyzing data from the state's 1987 county supervisor elections and hypothesizing that candidates' demands for votes increase as the gains from holding...

Over the past fifty years, the public choice research program has generated important insights into collective decision-making processes, especially as they operate within the political institutions of Europe and North America. Despite a half-century of progress, a great deal of unfinished...