Macroeconomic Monitor

2015.03.13

When the state knocks on the door

In public choice theory (which became particularly popular after the Nobel Prize for one of its founders, James Buchanan), there is talk of the so-called "rational ignorance". It is a situation in which the expenditure of resources (time, attention, effort, etc.) required for a person to become informed on a given issue exceeds the potential benefit of learning ...

More »