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Unintended Consequences
By sage of monticello | October 11, 2007
Government efforts at benevolence always backfire. Inevitably, unintended consequences overwhelm the short-term and narrow benefits of authoritarian programs designed to make the economic system fair, the people morally better, and the world safe for democracy. One hundred years of intense government “benevolence” in the United States has brought us to the brink of economic collapse…
-Rep. Ron Paul
Although referring to social welfare programs, the principle Ron Paul cites applies to government action beyond government handouts and extends to governmental mandates on the markets, a tool which can also be used for wealth redistribution purposes when cloaked in the “public good.” One such example is ethanol.
This leads me to an article by the Wall Street Journal on the declining influence of the Ethanol lobby in Washington D.C. The article notes that the source of the decline is due in large part to the rising costs of food.
The Agriculture Department says consumers can expect to pay as much as 4.5% more for groceries and restaurant meals this year over last, up from a 2.4% rise the year before. Was that intentional?
On the balance we get cheapter gas and better corn prices for a few, while more expensive food for us all.
Brilliant.
Topics: unintended consequences |
October 17th, 2007 at 12:31 pm
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