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August 23, 2007

Richard Murphy: It's The Way He Tells 'Em.

Here:

This is a good question. It does however assume that the interests of politicians are aligned to those of the countries they govern. Economists make such assumptions; in the real world this is not true.

Err, ever heard of public choice theory Richard? It's a bit of economics....pointing out that the interests of politicians are not aligned to those of the countries they govern. Y'know, they've given at least three Nobels for this work.

It's also one reason why handing over ever more tax money to politicians who, as noted, don't share our interests, is sometimes considered to be a not very good idea.

August 23, 2007 in Economics | Permalink

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Comments

If you read what I wrote Tim (a task that seems beneath your dignity) you'd actually note that I reveal my complete awareness of this and was challenging my questioner's lack of appreciation of the point.

But why bother yourself with such details?

Richard Murphy

Posted by: Richard Murphy | Aug 23, 2007 1:53:35 PM

"..you'd actually note that I reveal my complete awareness of this.."

Where? I've just read your post and I can't see any problem with Tim's comment.

Posted by: Alastair | Aug 23, 2007 4:15:41 PM