When studying public finance sometimes we come across very interesting concepts such as the iron triangle.
Where else can you learn about such interesting ideas?
“In USA politics, the “Iron Triangle ” comprises of the policy-making relationship between congressional committees, bureaucracy and interest groups” as described in 1981 by Gordon Adams.
The term iron triangle is also used in describing state of affairs in the private sector. Many years ago, a friend told me that there is a sold iron triangle encampusing money, alcohol and women.
I am yet to find out whether this is a true iron triangle or a fake one.
What other “iron triangle” do you know? Let’s know in the comments section below.
Read More: Public choice Theory
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