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Michael Munger on Industrial Policy
EconTalk
The Worst Problem of Instability in a Democracy
The way to avoid that inherent instability in a democracy could be to put up weird institutions, committees and subcommittees. Riker said, if we'll hang on, hang on. People who don't go back and listen, there are three alternatives and you just constantly are voting between two of them. And so it leads to a lot of instability. It is rock paper scissors.
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