Achieving optimal fines for political bribery: A suggested political reform |
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Authors: | Velma Montoya Thompson Earl A. Thompson |
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Affiliation: | 1. Occupational Safety and Health Review Commission, 20006, Washington, DC 2. Department of Economics, University of California, 90024, Los Angeles, CA
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Abstract: | Allowing appropriately high fines for political bribery would eliminate: (1) the large and allocatively arbitrary bribes paid to our most senior, retiring, politicians (2) the more moderate, but ubiquitous and still allocatively arbitrary bribes paid to less senior, but strategically successful, politicians, and (3) the permanent loss, through censure or expulsion, of some highly proficient, but strategically less successful, legislative representatives. Moreover, with fines appropriately set, the incentives theoretically describing the entire political system would be elevated from allocative arbitrariness to approximately Pareto optimal levels. However, to create legislatures generally willing to support these wholesale political-economic improvements, legally trained individuals must be exorcized from the legislatures. |
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