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Political Capitalism and the Power of Elites: Randall Holcombe

The Answer Is Transaction Costs

CHAPTER

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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