Monday, December 24, 2007

Economics of power

Power is something not usually talked about in economics. Economics has to do with scarcity, and the distribution of resources based on scarcity. Well, free markets are the most efficient solution. But it doesn't take into account who has more power and the way they use that power to gain all the resources.

Anyway, I found a good podcast that discusses these issues, that can be downloaded here.


The Political Economy of Power
August 14, 2006, Featuring
Bruce Bueno de Mesquita
Russ Roberts talks with Hoover Institution and NYU political scientist Bruce Bueno de Mesquita about his theory of political power--how dictators and democratically elected leaders respond to the political forces that keep them in office. This lengthy and intense conversation covers a wide range of topics including the evil political genius of Lenin, the dark side of US foreign aid, the sinister machinations of King Leopold of Belgium, the natural resource curse, the British monarchy in the 11th century, term limits and the inevitable failure of the standard methods of fighting world poverty.


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