11.20.2008

UNINTENDED CONSEQUENCES

Here's a nice WSJ article that anticipates the unintended consequences of government action: "An Auto Bailout Would Be Terrible for Free Trade." And the money quote: "Ironically, proponents of a bailout say saving Detroit is necessary to protect the U.S. manufacturing base. But too many such bailouts could erode the number of manufacturers willing to invest here." And you wonder why an Obama presidency and a Pelosi Congress scare me: I can't tell you how many times I agree with the D's on what they want to accomplish, but cringe because what they are proposing will actually lead to the opposite effect. Speaking of free trade, here's a blast from the past on the same subject: "Why Protest the WTO."
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