Economics Metaphor: Innovation in Politics

Bruce Bueno de Mesquita, NYU and the Hoover Institute, talks about the political economy of political campaigns and his forthcoming book, The Strategy of Campaigning: Lessons from Ronald Reagan and Boris Yeltsin. He talks with EconTalk host Russ Roberts about the different strategies politicians pursue in attracting support from voters and party delegates, the persistence of negative campaigning, the cost to politicians of sticking to their principles and how the political choices of Reagan and Yeltsin intersected to end the Cold War and dissolve the Soviet Union.