Miller shows that, as in commercial markets, victims of monopoly power in politics pay higher prices and get less in return. He details how political markets resist being organized competitively and thus not performing as well as commercial markets, and explains how this lack of competition is caused by political incumbents rigging political markets to protect themselves.
Author Biography
James C. Miller III is a senior fellow at the Hoover Institution at Stanford University and chairman of the CapAnalysis Group, an economic consulting firm associated with the international law firm Howrey, Simon, Arnold and White.
