is there a pithy law & economics term for “the law as various observers believe it to be” vs what it actually is in practice?
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Replying to @literalbanana
public choice theory is basically a study of exactly this thing. I'm not especially familiar with it but stuff life "law of unintended consequences", "rational ignorance" and "positivism vs normativism" all come to mind.
@bryan_caplan help
5:40 PM - 17 Jun 2018
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