Public Choice Theory

from The Library of Economics and Liberty, How We Failed Our Economics Students and Caused Low Government Approval Ratings by Russell S. Sobel: These shortcomings happen when individuals in the public sector (voters, bureaucrats, legislators, government employees,...

The Nirvana Fallacy

from The Library of Economics and Liberty, How We Failed Our Economics Students and Caused Low Government Approval Ratings by Russell S. Sobel: The “nirvana fallacy” is the logical error of comparing actual things with unrealistic, idealized alternatives. For...