Thursday, July 2, 2009

Govt Cuts Off Its Nose to Spite Its Face

http://online.wsj.com/article/SB124649332091983175.html#printMode

... which is not exactly a 'man bites dog' story, more like a 'sun came up again this morning' story. It also illustrates a Friedman maxim, roughly that any govt intervention creates negative eventualities that eventually form the basis for the next govt intervention.

In this case, it's one really pathetic example of government intervention in the market place which can have ONLY negative eventualities - which then so eviscerates GM that the government "had to" intervene to 'save' the company. I wish I was funny enough to make movies about stuff like this - a kind of libertarian Michael Moore.

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