“An economic transaction is a solved political problem.”
--Abba Lerner
Some say a political transaction is a solved economic problem, that politics is about finding and fixing market failures. If there can be market failures, then economic transactions can create political problems that need to be solved.
A lot of political transactions that I observe create economic problems.
--Abba Lerner
Some say a political transaction is a solved economic problem, that politics is about finding and fixing market failures. If there can be market failures, then economic transactions can create political problems that need to be solved.
A lot of political transactions that I observe create economic problems.