The Squeeze
by James Dale Davidson

An outstanding analysis of the American political economy in 1980. He coins the term transcendental capital to mean special privileges granted through the political system. The chapter on lawyers is particularly good. There are occasional quotable lines. The entire approach is that of an economist and political skeptic.

He continually looks at the incentives created: bureaucrats for paperwork, politicians for intervention, lawyers for unintelligible laws, doctors for licenses, etc. The one drawback is his hedonism. The only reason he can give for sacrificing one's time to fight the system is on the chance that your efforts will make the margin of difference. If the movement would win without you or lose despite you, then you shouldn't bother.

Year Read: 1982

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