Governments don’t work the way most people think they do. Public choice theory explores why government fails through how voters, politicians, and bureaucrats actually make decisions. Professor Antony Davies explains.

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Public choice economics is a field in economics in which we take what we understand about how humans behave, which is normally applied to humans in the private sector, and we apply this knowledge to humans in the public sector. What emerges is an interesting dichotomy between how we imagine government works and how it actually works.

TRANSCRIPT:
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