There is a strong idea from pubic choice economics which makes the claim that the externalities from regulatory or political capture must be considered. It isn'

There is a strong idea from pubic choice economics which makes the claim that the externalities from regulatory or political capture must be considered. It isn't. Arlie Russel Hochschild just finished a treatise in which she claims that Louisiana state government is completely captive to oil interests. I would not be at all surprised that this were true.