Interesting. This is almost exactly out of Daron Acemoglu's paper "Why is there no political Coase theorem?" His story is that inefficient policies persist beca

Interesting. This is almost exactly out of Daron Acemoglu's paper "Why is there no political Coase theorem?" His story is that inefficient policies persist because elites fear losing power of they implement efficient ones. Got any illustrative anecdotes?