The current issue of Region Focus, a publication of the Richmond Bank of the Federal Reserve, has a pair of interesting articles regarding Public Choice Economics. The first is a discussion of the theory itself, which is very readable for undergraduate economists. It discusses Bryan Caplan's new book The Myth of The Rational Voter: Why Democracies Choose Bad Policies. I'm not yet on-board with his arguments, but I have not yet finished the book and I do think it is an interesting alternative way of thinking about democracy beyond the traditional median voter framework that I teach in Micro.
The second article is of interest to WVU students, as it is an interview with our own Russell Sobel about a variety of his best research: Why FEMA fails (he wrote pre-Katrina), testing for the magnitude of the incentive to drive more dangerously when safety regulations are increased, Why West Virginia is poor, and does Wal-Mart destroy small businesses.
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