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(Easy to understand if you study one branch of economics)

Is this a harsh headline?

Why the focus on government failure?

How do they get away with it?

What are these stuff-ups I refer to?

  • The submarine fiasco.  Buying off the French company Naval Group with this unexplained $830 million payment. “In total, the failed French submarine contract will have cost Australian taxpayers $3.5 billion, Albanese said, with almost nothing to show for it.” Al Jazeera June 11, 2022. The “concentrated benefit” in this case went to Prime Minister Albanese as it made him took good for his Paris visit. The costs of course when to us!
  • Textbook rent seeking. This is explained eloquently by Justin Pyvis in his latest edition of The Context – I recommend you subscribe to it yourself.

Yes, I have a folder full of such examples but what do they all  have in common?  Once you identify just who is receiving the “Concentrated Benefits” of such random largess, you will also note that the costs are widely distributed over many thousands or millions of “suckers” such as us.  Because we are unable to clearly identify how much this is costing us individually, we do not rise up and march in the streets.

However, we do vote!

We could even choose to write letters of protest.

It all helps.

Politicians and councillors are not leaders, they are followers, and they follow where they think the votes are.

Public Choice Theory is the branch of economics that clearly explains how politicians and councillors get away with this and it is a recommended study for all of us interested bystanders. 

A two-week accredited course in Public Choice Theory is available each year at University of Notre Dame – Fremantle.  

Such teaching of Public Choice should be included in all management courses, as it plays an essential part in a deeper understanding of profitable business activity in our country.

If this knowledge of Public Choice Theory becomes widespread, there would be a shift from “silent sufferers”, to “strident questioners”, of this existing self-serving feeding at the public trough.

Regards,
Ron

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2 Comments

  • Ron you did not mention this stuff-up or is it a deliberate action on the part of Government:
    On Monday 08 August, our medical profession and pharmaceutical industry achieved the milestone of 10,000 covid deaths in the first 220 days of this years. This clearly shows that the Covid jab is at best useless and at worst lethal. In 2020 with no vaccine available, there were 909 deaths from Covid 19. In 2021, the fake-vaccine was introduced on about 22 February and there were 1330 deaths from Covid 19 in that year. Partway into the 8 month of 2022, we have 10,414 deaths (11 August) from Covid 19 as a result of people receiving third and fourth jabs, that is, an average of 47 deaths per day. This is State-sponsored manslaughter!
    Surely this warrants a criminal investigation. The fake-vaccine is a genetic engineering therapy that has never been shown to cure any human disease or illness. Yet it was forced on the population with doctors given no option to try an alternate treatment based on their combined vast experience and knowledge. Even to this day we cannot receive proven cures such as Ivermectin or hydrochloroquinine and the public have never been given basic advice such as boosting their immune system via vitamin D.
    It seems as though somewhere amongst the members of our Parliaments and the associated bureaucracies there are persons intent on carrying out the aims of the World Economic Forum to decimate the World population, the world-wide all-cause mortality rates have reportedly increased significantly and birth-rates have declined, and to alter the human DNA of the survivors via genetic engineering to make them amenable to complete control by the obscenely wealthy elite who run the WEF. We now learn that the US Federal Drug Administration is to approve future vaccines without any trials, corruption is rife from the top down all across the World.

    • Thanks Ron and Bevan. Please add the madness of ‘renewables’ and the vendetta against hydrocarbons, coal, oil and gas that have allowed breathing space to help mankind develop better access to better forms of energy. So much to do, so little time. And latter-day Luddites have invaded the control room using unfulfillable, empty promises to gain entry. A wonderful movie, The Wizard of Oz, describes it so well. The Tin man, the Straw man, the scaredy cat Lion, and innocent Dorothy walking the yellow brick road to meet the wonderful Wizard who proves to be a charlatan pulling levers of smoke and mirrors. Every generation needs to be reminded of fundamental truths – There ain’t no free lunch. Cheers Jock

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