Dangerous Times: Obama's Perversity

In economics, a "perverse effect" means getting what you don't want.  If McDonald's makes an executive decision to sell lousy burgers and ends up bankrupt, that is a perverse decision.  Markets are tough on companies that act perversely, but the Amazonian jungle of government allows perverse incentives to flourish and spread.  In our current state of national perversity we have massive voter ignorance and apathy (and therefore no punishment for misgovernment), a Senate that passes critical legislation without even bothering to read it, an income tax code written by special-interest lobbyists over decades, and an IRS that is so deeply politicized that voter outrage has no visible impact at all.  Add a one-party media and government control over one seventh of the economy coming up, and you know we're not going to come out of this unscathed. Chicago is basically a one-party regime.  How can you tell if you're living under one-party rule?  Your media...(Read Full Article)

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