In this paper we address a bothersome question for public choice analysis: Why do consumers and taxpayers acquiesce to seemingly inefficient wealth transfers to a relatively small number of producers? The most common and briefest answer given by political economists is that any individual...

The current round of negotiations of the General Agreement on Trade and Tariffs (GATT) represents a major initiative of economic reform. Initiatives for trade reform are far from new. A facilitative framework has been proposed that ranks policies according to their level of price...