1.8. Let's rewrite a sentence from the chapter concerning the Roman Empire: "As the American Empire grew, courting politicians Political Economy and Public Choice • CHAPTER 21 • 479 in Washington became a more secure path to riches than starting a new business." Does this seem true today? If it started happening, how would you be able to tell? In your answer, put some emphasis on market signals that could point in favor or against the "decadent empire"

theory. (Hint: By some measures, Moscow has the highest real estate prices in the world, and it's probably not due to low housing supply.)