"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Misallocation
Submitted by Anthony Gregory on Mon, 2009-02-23 17:00
Recommended "What's being done is (a) to fabricate some money that has not been saved by postponed consumption and is not owned by someone who earned it (because fiat money isn't earned by anyone and stolen money is certainly not owned by the thief) and then (b) to spend it on projects that seem likely to give jobs (of some kind . . . any kind) to people who will vote, come next election--so that, presumably, the cycle can be repeated." Column by Jim Davies. (Editor's pick)
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