Providing students of economics, politics, and policy with a concise explanation of public choice, markets, property, and political and economic processes, this record identifies what kinds of actions are beyond the ability of government. Combining public choice with studies of the value of property rights, markets, and institutions, this account produces a much different picture of modern political economy than the one accepted by mainstream political scientists and welfare economists. It demonstrates that when citizens request that their governments do more than it is possible, net benefits are reduced, costs are increased, and wealth and freedom are diminished. Solutions are also suggested with the goal to improve the lot of those who should be the ultimate sovereigns in a the citizens.
I was assigned to read this book as part of a class in Public Choice.
Good book, especially if you're not familiar with the concepts of public choice. To many people, the analysis is something like, "The market doesn't provide enough of the things that I prefer, therefore government should intervene to provide those things." To those a bit more economic-minded, it might go something like, "Market failures exist, therefore government should intervene to account for externalities, public goods, and distribution problems", and both of the analyses mostly sort of stop there. This book, and the field of public choice in general, is a study of economic principles applied to politics, studying consequences and incentive structures in government. Often asking the government to intervene isn't as easy as it seems. There are secondary effects, actors in the political sphere have their own motivations and agendas, and things don't always align with the intent of the legislation, or the interests of the public. This causes all sorts of problems, many of which are outlined here in the book, with lots of examples and citations. Conservatives and liberals alike would do well to make sure they are aware of these principles, and at least take them into account in their decision-making, when considering whether or not to ask Uncle Sam to step into some arena or other.
Good summary of major public choice frameworks, along with case studies. But the book could be much more concise, so my advice is to skim parts that seem redundant.
Like most books on public choice you have to kind of disconnect from reality to wrap your head around some of the bogus points made. For example, chapter 10 discusses monopolies, and explains that monopolies don't exist. Greyhound for example does not have a monopoly on bus services, because you can always walk! Don't question that walking is effectively an entirely different "product" sold by nobody and which fulfills a different purpose entirely from buses, planes, trains, boats, and cars - it's all transportation after all, and because there's multiple sellers, no monopoly exists. Except for when it does, and then it can only ever be because of the government, because private cartels don't last long, except also government-endorsed monopolies also don't even last long because... Have you drunk the kool-aid yet? How about this: safety regulations don't work because companies were already trying to make safer vehicles before regulation. After all, a pilot wouldn't fly a dangerous plane! (see: Boeing in 2024) But then, just a few pages later: Some people may choose to endanger themselves, but that is a decision they are allowed to make.
Public choice just makes such insane generalizations about human psychology, flipping wildly between total opposites depending on what's convenient. Companies don't need safety regulations because people generally prefer safety, but also people have a tendency to endanger themselves. You cannot have it both ways! The pilot in the plane and the passenger booking the flight are both people. Your risk tolerance doesn't change depending on if you're in the producer or consumer side of a transaction at the moment.
For what it's worth I found this book to be one of the better choices of this recent batch of public-choice-slop I've been reading. It focuses more on the economic implications of different government policies and the presence of government as a whole. But man, with each book I read on public choice, the more I'm convinced that those who study it are to the field of economics as chronically online troglodytes are to twitter. Cynical, more than willing to point out any and all flaws they can imagine, but with absolutely no solutions, and ultimately nothing of value for you to gain by hearing them out.
Well written overview of public choice. The case studies at the end will give both conservatives and liberals cause for consideration, and are a fitting finish to the book.
Simmons's book covers the basics of public choice. It's accessible for any student from any discipline. Advanced students will benefit from the references and others recommended readings.