May 14, 2008
The Farm Bill: Rent-Seeking and Rational Irrationality

Greg Mankiw discusses reasons to veto the Farm Bill. Here are two posts from Mike on the biases discussed by Caplan and a debate about agricultural subsidies featured in an issue of the Costco newsletter about a year ago.

Posted by Art Carden at 05:21 PM in Economics

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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