An excellent summary of political economy by Don Boudreaux at Cafe Hayek (slightly re-formatted here; re-read it to keep the names straight.).
Market entrepreneur Smith succeeds only if and insofar as he persuades investor Jones and consumer Williams each to spend his or her own money on Smith’s business plan and products.
Political entrepreneur Politician Johnson succeeds only if and insofar as she persuades voter Jackson and voter Miller to spend other people’s money – namely, money belonging to taxpayers Smith and Jones – on Johnson’s political plan and programs.
Despite the perversity of this reality, the Smiths and Jones of the world are commonly derided as greedy and antisocial pillagers, the Jacksons and Millers of the world are lauded as deserving and noble citizens, and the Johnsons of the world are celebrated, cheered, applauded, hailed, and memorialized as generous and visionary public servants.….
Politics is a scam.