The Real Life Plutocracy blog will feature stories from the news that demonstrates how some business people use political machinery to gain competitive or monetary advantages. As with the game itself, the underlying theory is Public Choice.
There has been a lot of articles about the Epipen defacto monopoly. There are also many blog posts about it. In the latter category, I particularly want to point out this one from Slate Star Codex. As the articles above point out, there are several mechanisms in place for Mylan to support the high price… Read more
The Federal Government has a tax credit for the construction of low-income housing. Whatever its intentions, it is mostly used to transfer wealth into construction businesses and developers. This NPR Report documents cases of outright fraud in Miami. Michael Cox, a repentant developer, calls it a kick-back scheme. Businesses would inflate their costs in order… Read more
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