Prior to beginning work on this discussion, read Chapter 14 in your textbook and Tim Worstalls article, One Benefit of Nancy MacLeans Democracy in Chains Public Choice and Rent Seeking Popularised (https://www.forbes.com/sites/timworstall/2017/08/06/one-benefit-of-nancy-macleans-democracy-in-chains-public-choice-and-rent-seeking-popularised/?sh=3f7c053d6aca).
Based on the articles information and Chapter 14 in your textbook, especially Sections 14.1 and 14.2, respond to the following:
What is the public choice idea or theory?
-Explain what rent seeking is.
-How can you combine the ideas of public choice and rent seeking?
Explain one real-world example of combining public choice and rent seeking.
Your initial post should be a minimum of 300 words.
Course Text:
Amacher, R., & Pate, J. (2019). Principles of microeconomics (2nd ed.). Bridgepoint Education.
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