(Consider This) The government's subsidized loan program used with Angora goat farmers today

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The government's subsidized loan program for Angora goat farmers is an example of a policy that has continued beyond its initial intent, illustrating the "special-interest effect" where specific groups benefit at the expense of the general public. It also showcases the principal-agent problem, where government officials (agents) may not always act in the best interest of the taxpayers (principals). Additionally, it's difficult to terminate such programs due to the "concentrated benefit and diffuse costs" problem, where the benefits are concentrated among a small group (the goat farmers), while the costs are spread out across many taxpayers, making the program's continuation more favorable to those directly benefiting.

(Consider This) the Government's Subsidized Loan Program Used with Angora