An article describing the work of James Buchanan observed, “Buchanan and other public choice theorists altered the debate by proposing that government may not really correct problems in the marketplace because of the wealth trading, or rent seeking, that occurs during the legislative process.” The same article included the following statement by Buchanan: “I was greatly influenced by Knut Wicksell’s admonition that economists cease acting as if government were a benevolent despot.”

a. Explain why James Buchanan and other public choice economists believed that government policymakers do not act as “benevolent despots.”

b. Why would “rent seeking” be an impediment to government attempts to correct “problems in the marketplace”?