Saturday, June 25, 2005

On irrationality

The problem with democratic leaders overruling
private decisions is that it relies on a fairly
ridiculous premise: people are too dumb to make
the right decisions in a private market, and yet
they are smart enough to select people in the
political process who will efficiently correct
their irrational decisions in the private market.

That pretty well locks it up, Scott.

Scott Scheule