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2min chapter
Political Capitalism and the Power of Elites: Randall Holcombe
The Answer Is Transaction Costs
The Inevitable Nature of Government and Power Dynamics
This chapter examines the dual nature of government as both potentially avoidable and a necessary institution, contrasting historical libertarian views on privatization with the dangers of concentrated power. It highlights the need for caution in governance to prevent oppressive systems from emerging while exploring the roles that private markets might play in society.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode