Barry Weingast on the Violence Trap
2013-08-12 · 69 min · episode 380 · 18 entities
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Barry Weingast on the Violence Trap
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Feed author/publisher: Russ Roberts
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Feed author/publisher: Library of Economics and Liberty
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concepts 12
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Barry Weingast on the Violence Trap
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Feed author/publisher: Russ Roberts
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Feed author/publisher: Library of Economics and Liberty
podcasts 1
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Barry Weingast on the Violence Trap
Episode description as stored
Barry Weingast, the Ward C. Krebs Family Professor of Political Science at Stanford University and a Senior Fellow at Stanford's Hoover Institution talks with EconTalk host Russ Roberts about the role of violence and the threat of violence in maintaining destructive economic policies that reduce growth and development. Weingast argues that the threat of violence encourages leaders to create monopolies and other unproductive policies to pay off special interests that would otherwise threaten a coup or revolution. Weingast shows there is a surprising amount of violent regime change in modern times and discusses how this discourages growth-enhancing economic policies. The conversation closes with an analysis of similar ideas in Book III of Adam Smith's Wealth of Nations.