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Public Choice: Why Politicians Don't Cut Spending

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Video Details

Duration: 2 minutes and 19 seconds
Country: United States
Language: English
Producer: http://www.youtube.com/watch?feature=player_embedded&v=6uR4lqa7IK4
Director: mustwatch.eu
Views: 366
Posted by: reformy.cz on Jun 1, 2013

Why do politicans never seem to cut government spending? Using public choice economics, or the economics of politics, Prof. Ben Powell shows how voters are rationally ignorant of what politicians do. This leads to a phenomenon called "concentrated benefits and dispersed costs," which favors recipients of government payments at the expense of the average taxpayer.

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