Showing posts with label labor-saving. Show all posts
Showing posts with label labor-saving. Show all posts
Friday, December 29, 2017
Make-Work Is Wasteful
My final column for the American Institute for Economic Research is "Make-Work Is Wasteful."
Friday, September 16, 2016
TGIF: Trade Is a Labor-Saving "Device"
Updated Sept. 22, 2016
Democratic politics makes savvy people stupid, at least when they act politically. This has long been demonstrated, and it applies both to voters and policymakers. Several things account for it: the impotence of one vote, the consequent futility and hence wastefulness of acquiring information, the dispersal of the costs of government, and the resulting theatrical mood-setting farces called election campaigns.
Democratic politics makes savvy people stupid, at least when they act politically. This has long been demonstrated, and it applies both to voters and policymakers. Several things account for it: the impotence of one vote, the consequent futility and hence wastefulness of acquiring information, the dispersal of the costs of government, and the resulting theatrical mood-setting farces called election campaigns.
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