Again and again, I hear managers ask government for stability. You can’t make plans for capital investment and business without expectations about the future. Government sets up big players in society which not only set expectations through tax and regulation, but which can change their minds, spoiling people’s plans, often at considerable expense. Roger Koppl’s Big Players and the Economic Theory of Expectations makes a study of that theme. Koppl demonstrates, with extensive reference to other scholars, that investment and all other […]
Tags: Big Players, Books, Crony capitalism, economics, Expectations