Cui Bono?

by Don Boudreaux on April 21, 2011

in Other People's Money, Politics, Seen and Unseen, Video

Suffolk University economist (and GMU PhD) Ben Powell wrote and narrates this short video (produced by the Institute for Humane Studies at GMU) that reveals one important way in which public-choice economics helps us to better understand our world.

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tomharvey April 21, 2011 at 2:48 pm

Very nicely done. If you want to see/hear more Ben Powell, I highly recommend

I enjoyed it much more than I thought I would. Especially memorable was the part about counterfeiting Somalian paper currency.

Scott G April 21, 2011 at 2:55 pm

Here’s my Facebook status at the moment:

“This video explains why I no longer vote. My vote has statistically zero influence on the outcome of large political elections. If you’re interested in learning more about stuff like this, Google “public choice economics” (that is economics applied to politics).”

The video does a fantastic job at explaining the insignificance of a single vote, however it only does a decent job of explaining why politicians spend more than the average voter wants. It’s hard to explain this second idea in a short video. It this is a good start, but it would take many more videos to explain this second idea. For example, the video doesn’t mention anything about competitive governments nor does it mention anything along the lines of the lack of competition among our two “competing” parties.

elaine griego April 23, 2011 at 5:45 am

You should ask that about everything; always be skeptical. However, that a particular story benefits someone does not necessarily make the story untrue or fabricated.

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