Steven Teles is a professor of political science at Johns Hopkins University and a senior fellow at the Niskanen Center. Today he defines and talks to us about a few words, including “liberaltarianism” – explaining how it diverges from libertarianism with an intellectual history and why – and “kludgeocracy”. We talk about the complexities of government organization and the causes- including regulatory capture, and he tells us what he envisions to be potential solutions. Never miss another AdamSmithWorks update.Follow us on Facebook, Twitter, and Instagram.