The Loser's Paradox
Economists who study government (public choice theorists) have since the 1970s been interested in the "Loser's Paradox." Can it help explain the content of our copyright and telecommunications laws?Read the rest here.
Economists have noted that a surprising amount of government support goes to ailing sectors instead of expanding sectors. Classically, agriculture, textiles, clothing, footwear, steel and shipbuilding are the examples of industries on perpetual life support. Each has been in decline for decades, yet get more help from Government than any other. Conversely, expanding industries, like the high-tech industry, rarely if ever receive government assistance. In short, economists conclude, Government picks losers.
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