Prior to beginning work on this discussion, read Tim Worstall’s article, One Benefit of Nancy MacLean’s Democracy in Chains – Public Choice and Rent Seeking Popularised
(Links to an external site.)
Links to an external site.
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Based on the article’s information and Chapter 14 in your textbook, especially Sections 14.1 and 14.2, respond to the following:
- What is the public choice idea or theory?
- Explain what rent seeking is.
- How can you combine the ideas of public choice and rent seeking?
- Choose one real-world example of combining public choice and rent seeking to evaluate
