54 The logic of politics often leads to very different

Last updated: 10/18/2023

54 The logic of politics often leads to very different market outcomes than if the logic of economics were being used to allocate scarce resources In our discussions we covered a concept called concentrated benefits dispersed costs that might help one understand this disparity Briefly explain what the concept means and then give an example of applying it to say farm price supports a type of price control we covered but other examples may be used