I have several posts on unintended consequences of government policies, starting with one on November 27, 2010. (Click the Unintended Consequences category to see them all.) I just ran across a book that focuses exclusively on this topic and makes the point that some policies don\’t just have minor negative outcomes but actually lead to…
Today is the 325th birthday of the publishing of Adam Smith\’s An Inquiry into the Nature and Causes of the Wealth of Nations! Join the celebration by listening to Russ Roberts on Cato or reading Mark Skousen on the centrality of the phrase \”the invisible hand\” in Smith\’s thinking (HT Russ Roberts).
Government-guaranteed home mortgages … force the general taxpayer to subsidize the bad risks and to defray the losses.