Monday, February 22, 2010

A bit of must-read economics

In the face of Obama's new healthcare initiative, which includes provisions to cap the increases in insurance costs, you can read here a nice description of the problems of fixing maximum prices. When the Government caps prices to help people, it is a policy which goes in the category of "really simple, intuitive, well-intentioned, and wrong."

More people need to understand the proper functioning of the free market. This is true of people on "Main Street" as well as those on Wall Street. I think I may be becoming more Libertarian in my old age. :)

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