People who hope to be re-elected on the basis of what their party during the preceding three or four years has conferred in conspicuous special benefits on their voters are not in the sort of position which will make them pass the kind of general laws which would really be most in the public interest. [The Political Order of a Free People, p. 28]
". . . for almost a century the basic principles on which this civilization was built have been falling into increasing disregard and oblivion." -- Hayek
Tuesday, July 17, 2012
Political Incentives
Hayek:
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