A month of political fudge and indecision

Public Choice Theory advances the idea that politicians and officials are likely to develop public policy based on their own self-interest, rather than being motivated by the so-called “common good”. A handful of political developments over the past fortnight – domestic and European – appears to support this theory. The persistence of the Eurozone crisis, the re-commitment to ring-fencing certain items of public expenditure, the delayed decision on UK airport expansion and local authority opposition to shale development all seem to be influenced, at least in some part, by public figures putting their own immediate self-interest ahead of the common good.

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Daniel Mahoney, Tim Knox - Friday, 11th December, 2015