EconTalk cover image

Branko Milanovic on Capitalism, Alone

EconTalk

The Importance of Rules in a Bureaucracy

2min Snip

00:00
Play full episode
If you have a great bureaucracy, it's kind of like being a parent. The state would never relinquish that role because that role is absolutely crucial if the state wants to impose decisions that it likes. I also use examples of China. You had people like for example, Kudorowski who were oligarchs but at some point they get in the state and are punished. That's actually not only inevitable, but it's actually part of the set up of the system.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode