An Econtalk Episode: Munger on Private and Public Rent-Seeking (and Chilean Buses)

EconTalk ^ | august 23, 2010 | Russ Robert's/Mike Munger

[Voption]

Mike Munger of Duke University talks with EconTalk host Russ Roberts about private and public rent-seeking. When firms compete for either private profit opportunities or government contracts, there are inevitably firms or people who spend resources but end up earning little or nothing. What are the differences, if any between these two forms of competition? How do they related to competitions that award prizes for discovering new technologies? The conversation begins with a discussion of a recent trip Munger took to Chile where he observed the current state of the Chilean bus system, a topic he has discussed in the past

[Voption]

More relevant now than ever before, as the usual-suspect CRONY-RINO's push through mass Tariff's, under the guise of industrial-planning....

[Hawthorn]

>> the usual-suspect CRONY-RINO's push through mass Tariff's, under the guise of industrial-planning <<

crony capitalism = industrial planning

industrial planning = preferential tariffs

preferential tarrifs = MAGA

Ergo:

crony capitalism = MAGA

Eureka! Now let's get with the program!