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Money for Nothing: Politicians, Rent Extraction, and Political Extortion Hardcover – June 29, 1997


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Money for Nothing: Politicians, Rent Extraction, and Political Extortion + Republic, Lost: How Money Corrupts Congress--and a Plan to Stop It + Small Change: Money, Political Parties, and Campaign Finance Reform
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Product Details

  • Hardcover: 240 pages
  • Publisher: Harvard University Press (June 29, 1997)
  • Language: English
  • ISBN-10: 0674583302
  • ISBN-13: 978-0674583306
  • Product Dimensions: 0.8 x 6.5 x 9.8 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #2,203,407 in Books (See Top 100 in Books)

Editorial Reviews

Review

McChesney has kept his study concise and easygoing despite including technical economic analysis. He has a fine sense of humor, reflected in the witty epigrams at the start of each chapter and the occasional cartoon that he has included...As one of the first economists to study in depth how private parties make payments to avoid regulation, McChesney has broken new ground and written a provocative book. (Gregory E. Maggs The Green Bag)

Sherlock Holmes is not the only sleuth who detected the significance of the dog that did not bark. In his important book on rent extraction, Fred McChesney outlines with theoretical rigor, and demonstrates with concrete evidence and pointed anecdotes, the politician's pastime of threatening harmful legislation to extract political contributions from well-heeled private institutions. Everyone now knows the dangers of excessive government regulation. Now McChesney demonstrates that even when the political waters seem still, powerful forces are at work beneath the surface. Only those who are satisfied with the present political process can afford to ignore McChesney's sobering contribution on the dangers of big government. (Richard A. Epstein, University of Chicago)

About the Author

Fred S. McChesney is Professor of Law at the Cornell Law School.

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5 of 5 people found the following review helpful By Donald J. Boudreaux on July 16, 1999
Format: Hardcover
Fred McChesney here develops his original idea of rent extraction -- and it's an idea that renders understandable much of what the government does. (Want to know why the NRA and politicians perform a perpetual, public dance with each other? Read this book. McChesney's explanation will surprise you.) This book is a marvelous example of the best in public-choice scholarship: clearly written and cogent.
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3 of 3 people found the following review helpful By A Customer on March 14, 1998
Format: Hardcover
What motivates politicians? How do they act? If you are interested in those questions your should read this. The author starts from earlier work in the area by Stigler and Posner - but then extends their models in a number of areas. McChesney has a remarkable ability to take a complex area of economics (public choice) and write in an interesting and understandable fashion. This book is probably going to be read mostly by academics but deserves a wider audience.
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