Costing secrecy

Mark Harrison 15 January 2014

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From public finance to climate change, democracy looks to be in trouble. In many Western countries, political decisions are gridlocked while economic, social, and environmental imbalances accumulate. Our leaders juggle public opinion, private lobbies, and expert advice while trying to live within past promises and present legal obligations. The costs of reaching decisions are often high and sometimes prohibitive, leading us into democracy’s ‘do nothing zone’, where bargaining fails and the outcome is procrastination (Wintrobe 2000: 247-279).

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Topics:  Economic history Politics and economics

Tags:  democracy, dictatorship, Soviet Union, autocracy, transaction costs, secrecy

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