Quote of the day
February 19, 2009 – 7:48 am by JohnWrites Robert Higgs:
These [public–private] partnerships, which epitomize economic fascism, promise to waste resources on a wide front. The idea that politicians and politically appointed “experts,” in league with rent-seeking businessmen, can allocate resources more effectively than the private capital markets is a characteristic form of the folly that is leading our generation to march over the same cliff that our forebears marched over in the 1930s. Each step in this direction moves us farther from economic liberty and closer to the complete politicization of economic life—a trend that recent de facto or de jure government takeovers of large banks and other financial firms are already accelerating.