March 11, 2008
Rich, beautiful, shameless

Malcolm Forbes is supposed to have said, "Nepotism's OK as long as it's kept in the family." In that vein, NPR's "Steve Inskeep talks to [Scott] Simon, host of [NPR's] Weekend Edition Saturday, about his book, about growing up in Chicago and about the simultaneously selfless — and self-absorbed — enterprise of politics."

On the last point, Simon approvingly quotes his principal character: "Of course, the system isn't fair. It favors the rich, and the beautiful, and the shameless. But everyone gets a chance in the end."

That bit of praise sounds like a succinct statement the condemnation that statists use when calling for "regulation" of markets. Doesn't it occur to them that, given the levers available in both the market and the political system, the rich, the beautiful, and shameless are even more likely to prosper than if "regulation" were absent?

Posted by Wilson Mixon at 01:27 PM in Politics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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