The Answer Is Transaction Costs

← The Answer Is Transaction Costs4 Aug · 26 min

The Senate Is The Enemy And Other Friction Stories

The Senate Is The Enemy And Other Friction Stories4 Aug26 min

Send us Fan Mail We argue that “friction” is not always a flaw and can be a deliberate shield against bad collective decisions. We use Buchanan and Tullock’s public choice framework to show why supermajorities, veto points, and other transaction costs can protect rights while still leaving room for day to day governing. • contrasting cheap outrage with intentional institutional friction • explaining why constitutional amendment rules use supermajorities • breaking down exter...