Art Carden is a Senior Fellow at the American Institute for Economic Research. He is also an Associate Professor of Economics at Samford University in Birmingham, Alabama and a Research Fellow at the Independent Institute.
At first glance, a lot of the social problems and resource waste emerging from government intervention seem pretty easy to fix: the government should just stop doing whatever it is doing that is creating the problems and the waste. The stubborn persistence of institutions and organizations that keep societies poor is a vexing problem for social scientists. In Political Capitalism, the economist Randall Holcombe takes on this problem by analyzing “political capitalism” as a distinct economic system with its own logic and features rather than as some kind of midpoint between capitalism and socialism.