July 24, 2009
Policy and Housing Woes

In Commentary, John H. Makin chronicles points at which bad policy led to bad results in the housing market. Appropriately, he begins with Herbert Hoover ("As a people we need, at all times, the enouragement of home ownership.")

Posted by Wilson Mixon at 04:26 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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