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03/17/2019

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:...are an education establishment that fans the flames for bond packages; real estate/construction interests that lobby legislators and profit from them; and politicians who buy votes by spending taxpayers' money.”

Rent seeking has become pervasive and creates mal-investment as well as increases inequality as it distributes rewards upwards.

Odd how the education establishment is all about equality yet engages in rent seeking resulting in rewards distributed upwards.

Real estate/construction interests are acting rationally since rent seeking is made widely available by politicos.

Finally, it might be phrased as “buy votes” by spending taxpayer dollars but the technical phrase as found in Public Choice Theory is: political constituency building with other people's money. Phrased either way, it is a real and true problem. Why would a politico ever spend their own money regarding political constituency building when other people's money [taxpayer] is readily available. More insidious is that politicos know exactly what they are doing, know the exact process and eagerly deploy the process regarding political constituency building with other people's money.

Democracy is not a panacea as politicos would like voters to believe, rather it is merely the best system we know of. As such, democracy is riddled with draw backs as mentioned above.

I agree, Bill. And in the case of Guilford County, based on the historical record, the rent-seeking to which you refer resides immediately within the household of the school board chairperson. That makes it even more nefarious.

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