Reality University #6: The State

What makes governments do what they do? It’s not a snide question. At least not entirely. People’s expectations of government are often frustrated, and their frustrations magnified, because of a lack of systematic analysis of how the state is likely to behave given that, like a market economy, it’s composed of individual people reacting to incentives, but the incentives are very different from those in the private sector. Listen to the podcast, here.