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Unformatted text preview: The Power of Organized I nterests: What economics can tell us about politics I. Intro a. Lasting question: If people know so much about public policy, then why is everything so messed up? b. In the realm of Public Policy i. Achieved some great things 1. Americans are healthier, richer, and better-educated c. Even when economists reach consensus on policies that would make us better off, those policies often run into a brick wall of political opposition i. Example: International trade d. Big things cause riots → small things go through i. Even when it’s debatable whether or not the policy serves public interest e. People with a lot of interest are most likely to react f. When it comes to interest group politics, it pays to be small i. Small, well-organized groups are most successful in the political process 1. Because the costs of whatever favors they wrangle out of the system are spread over a large, unorganized segment of the population g. In countries make up a small fraction of the population the government...
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This note was uploaded on 04/18/2011 for the course BUS 202 taught by Professor Kreft during the Winter '09 term at Indiana.
- Winter '09