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Discuss James Madison's Views on Factions,as Expressed in Federalist No

question 54

Essay

Discuss James Madison's views on factions,as expressed in Federalist No.10,and how he would respond to the tremendous growth in the number of interest groups actively lobbying in Washington,D.C.,over the past several decades.


Definitions:

Opportunity Cost

The expense incurred by not selecting the second-best option when deciding among various choices.

Willingness to Pay

The maximum amount an individual is prepared to expend on a good or service to procure it.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the amount they actually receive.

Tax Revenue

The tax revenue that governments obtain.

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