Description

Fully revised and updated third edition of Randy T. Simmon's landmark examination of "government failure" viewed through the lens of public choice theory, explaining how governments produce stagnation, scandals, and public distrust.

Are there really as many market failures as we've been led to believe? Or might these be better understood as political failures?

Designed both as a stand-alone guide for curious readers and a classroom companion for undergraduate courses, this updated edition of Beyond Politics is a provocative introduction to public choice economics. Challenging the familiar assumption that government intervention is the natural solution to "market failure," Randy Simmons--professor of economics, entrepreneur, and Director of the Center on Growth and Opportunity at Utah State University--and Diana W. Thomas--professor of Economics, co-editor of the prestigious The Independent Review journal, and Director of the Institute for Economic Inquiry at Creighton University--blend engaging stories, historical examples, and accessible analysis to show how political and economic systems really function.

Drawing on decades of public choice scholarship, each chapter of this book shows why well-intentioned political actors often produce outcomes that fall far short of the public good. After all, just as markets are shaped by incentives and information, so too are voters, bureaucrats, and policymakers--frequently leading to unintended consequences and costly policy failures.

Through compelling case studies--including the surprising history of privately operated lighthouses (which, as it turns out, often outperformed government monopolies!)--Beyond Politics shows how voluntary cooperation and institutional innovation can and do solve complex social challenges.

Clear, engaging, and thought-provoking, Beyond Politics challenges readers to look beyond traditional political solutions and discover how decentralized human cooperation has long been the most powerful force for peace and prosperity.