|Peter Boettke|
It is important to distinguish between venal corruption (which can actually be welfare enhancing under certain circumstances -- see, e.g., this paper by Enrico Colombatto) and systemic corruption (which is never welfare enhancing). By my reading, the best paper written on this subject with respect to American History is by John Wallis.
This might be an even more important paper to read than brushing up on macroeconomic policy or microeconomic regulatory policy to frame the political debate in America today.
Comments