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According to Caplin, why do people sometimes favor "bad" policies?
Contrast his view with a traditional "public choice" view of public opinion that has advocated the concept of "concentrated benefits/diffuse costs" as an explanation of bad policies that favor special instead of general interest. Caplin gives steel tariffs as an example for his position. Give an example that supports the traditional concentrated benefits story.According to Caplin, why do people sometimes favor "bad" policies? Contrast his view with a traditional "public choice" view of public opinion that has advocated the concept of "concentrated benefits/diffuse costs" as an explanation of bad policies that favor special instead of general interest. Caplin gives steel tariffs as an example for his position. Give an example that supports the traditional concentrated benefits story.
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