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Many good things may come out of our current political mess. This is one of them.

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3 Responses to “‘Joe Biden and Elaine Chao have to report when someone sends them a $500 campaign donation, or when they make a $5,000 investment in a stock. But when their family members strike lucrative deals with a foreign government or oligarch, the reporting requirements are vague… [L]awmakers set the system up this way for a reason; they will not stop the foreign cash influence game voluntarily. That’s why we need a Washington Corrupt Practices Act, one that clearly shuts down foreign influence and self-enrichment for some of America’s most powerful families on both sides of the aisle.’”

  1. Stephen Karlson Says:

    That would make for a good conversation over strong coffee with Mr UD … whether there is any comprehensive reform that takes away the tendency of people to seek rents in the setting of a High Modern state that generates a lot of rents.

  2. Margaret Soltan Says:

    Stephen: Mr UD just gave me a mini lecture on the subject. Basic takeaway – People are always going to be corrupt and greedy, so it’s a question of the extent to which you can have a less corrupt country than other countries. Some libertarians argue that part of the answer is a very simplified state with far fewer moving parts, thus offering less opportunity for secrecy and greed. There’s codification of laws (he cited Ted Lowi here), and transparency in general…

  3. Stephen Karlson Says:

    Good evening back at the both of you, that is the Readers Digest Condensed Version. Richard Epstein’s Simple Rules for a Complex World makes similar points. Fewer opportunities to obfuscate, fewer opportunities to seek rents.

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