Or, Another Real-World Instance of Public-Choice in Action

by Don Boudreaux on February 5, 2011

in Agriculture, Not from the Onion, Other People's Money, Subsidies, Trade

Here’s a short, entertaining video on how Uncle Sam uses Americans’ tax dollars to pay hush money to parties who – for their own selfish reasons – actively seek to prevent Uncle Sam from wasting American taxpayer dollars and to stop Uncle Sam from harmfully intervening into the market for cotton.  (HT Frayda Levy)

(Extra-credit question: Is it appropriate to interpret the events summarized in this video as a real-world instance of the Coase Theorem in action?)

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