Institutions will try to preserve the problem to which they are the solution.Echoes The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities by Mancur Olson. His thesis was on the lines that in a stable society, eventually growth and prosperity are subverted by interests groups who strangle the politic through rent seeking and regulatory capture (my words, not his).
No comments:
Post a Comment