07.21.2011 0

Quote of the Day

Today’s quote of the day comes from Gordon Tullock:

[I]ndividuals who enter a supermarket and purchase items of their choice are assumed, when they enter the voting booth, to vote not for the politicians and laws that will benefit themselves, but for politicians and laws that will benefit the nation as a whole. People in the supermarket mainly buy [the goods] that benefit themselves and their families. However, when individuals become politicians, a transformation is assumed to occur so that a broader perspective guides them to make morally correct decisions rather than follow the course of behavior that pleases the interest groups that supported them or the policies that may lead to reelection.

Source: Tullock, Gordon, Arthur Seldon, and Gordon L. Brady. 2002. Government Failure: A Primer in Public Choice. Washington DC: Cato Institute.

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