A lost plane and pollies perks
Both of these issues are classic examples of what economists call public choice theory. This is the theory of ‘concentrated benefits’ winning and ‘diffused costs’ losing.
Those receiving the concentrated benefits (measured by the many dollars received) are incentivised to work very hard to gain and keep these ‘rivers of gold’ and they manage to spread the costs over many thousands or millions of victims to ensure that the costs do not quite cripple these victims. Easy to see why the political class are working so hard to protect their lucrative rorts which are not available to the non-political class.
With the missing Malaysian Airlines plane flight MH370 a similar scenario exists, with the beneficiaries of the $200m, Australian taxpayer-funded search for someone else’s plane, working hard to extend the timeline of this taxpayer-funded gravy train.
Fellow taxpayers, it is time to revolt and maintain your rage right through to your next visit to the polling booth.
