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14min chapter
Political Capitalism and the Power of Elites: Randall Holcombe
The Answer Is Transaction Costs
Political Capitalism and Transaction Costs
This chapter explores the interplay between political capitalism and transaction costs, highlighting how cronyism distorts democratic processes. It emphasizes the influence of elite interests on public policy and the challenges faced by average citizens in engaging with political transactions. Additionally, the chapter discusses the role of charismatic leadership in shaping political narratives and outcomes.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode