Saturday, December 04, 2010

You can't read enough Scott Sumner:
There are actually two Republican parties in America. One wants to do real deregulation, to actually reduce the role of the government in the economy. The other Republican party (which I fear is the more powerful one) wants to do “deregulation,” to remove all constraints on business, banking, the medical industrial complex, energy, for-profit colleges, etc, so that they can systematically loot the taxpayers by taking advantage of the enormous moral hazard that has seeped into almost all aspects of our modern regulated economy.

The Dems are more likely to want to try to tame the beast, but then keep passing laws that make the economy even more riddled with moral hazard. Not much of a choice these days.


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