Source: Coyote Blog
by Warren Meyer
“The history of sacrificing the mass of consumers to the profitability of a few elite producers goes all the way back to the horrible British corn laws. Economists refer to the problem as ‘concentrated benefits, dispersed costs.’ Costs are dispersed such that no one person bearing them really has the financial incentive to take on the costs of fighting them, while benefits are concentrated in a few hands that have the incentive and the means to fight to the death to protect their special privilege.” (04/06/25)