Published Aug 23, 2010
Michael Munger on Private and Public Rent-Seeking (and Chilean Buses)
Michael Munger delves into the intricacies of rent-seeking in both public and private sectors, exploring the consequences of government favoritism versus market competition, and examines the transformation of Santiago's bus system as a case of public policy gone awry. The episode also delves into economic theories of innovation and their real-world applications, particularly Chile's economic shifts towards free market principles.
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