"Homo politicus and homo economicus are the same. The critical implication of this assumption of universal self-interest is that the observed differences between public choices and private choices emerge not because individuals adopt different behavioral objectives in the two settings, but rather because the constraints on behavior are different. Different outcomes emerge not because public choices are guided by motives different from those guiding private choices, but rather because in private markets self-interested voters and politicians make choices that mainly affect themselves, while in political markets self-interest voters and politicians make choices that mainly affect others."- F.S. McChesney and W.F. Shughart II, The Causes and Consequences of Antitrust: The Public Choice Perspective
Public choice, especially the work of James Buchanan and Gordon Tullock, might signify the greatest rethinking in the academic work in the past 60 years. Politicians are no longer exclusively seen as selfless public servants. Economics provides insight into all human action.