Madmen, Intellectuals, and Academic Scribblers: The Economic Engine of Political Change

Madmen, Intellectuals, and Academic Scribblers presents a simple, economic framework for understanding the systematic causes of political change.

Wayne A. Leighton and Edward J. López take up three interrelated questions: Why do democracies generate policies that impose net costs on society? Why do such policies persist over long periods of time, even if they are known to be socially wasteful and better alternatives exist? And, why do certain wasteful policies eventually get repealed, while...