"Even today, it’s very common for people, even economists and political scientists to put forward ideas which could only work if the government were a benevolent dictator."
"If you're not re-elected, you certainly don't care about the future costs." This is why the rational actor model is too limited. Presidents care very much about "securing their legacy."
Excellent lecture! Well spoken and gives time to the listener to comprehend, thank you for not speaking too quick !!!
"Even today, it’s very common for people, even economists and political scientists to put forward ideas which could only work if the government were a benevolent dictator."
This is Civics 3.0. So good. So well explained. So important.
16:48 Rent-Seeking
Thank you Alex! It has made me understand the subject.
"the future" for politicians is a tragedy of the commons problem.
Excellent lecture!!!
I love economics
this video is really uplifting
Imagine a Public School class devoting 30 minutes to watching this video. Nope, not going to happen.
excellent, thank you!
Really cool video!
Perfect competion monopoly marginal revolution
Crazy!!
This all seems to suggest a kind of meritocracy or weighted voting.
"If you're not re-elected, you certainly don't care about the future costs."
This is why the rational actor model is too limited. Presidents care very much about "securing their legacy."