“When the government pays, health care's lack of affordability becomes a self-fulfilling prophecy. In health care, as in other things, government is the high-cost producer.” SelfGovernmentCarePayCostProducersHealth CareFulfillingProphecySelf Fulfilling ProphecyAffordability Book:Learning Economics Source: Learning Economics
“The gap between what one knows and what one thinks one knows may be higher in the ranks of the elite. The result is supposedly-clever government interventions, introduced with excessive confidence, leading to disastrous results.” ThinkingKnowsMayGovernmentResultsHigherCleverGapsElitesInterventionGovernment Intervention Author:Arnold Kling
“I call this the Fundamental Problem of Political Economy. How do we limit the power that idiots have over us? ... [Milton] Friedmans insight is that a market limits the power that others have over us; conversely, limiting the power that others have over us allows us to have markets. Friedman argued that no matter how wise the officials of government may be, market competition does a better job of protecting us from idiots.” MayDoeMatterProblemGovernmentJobsPoliticalEconomyWiseLimitsFundamentalsCompetitionInsightIdiotOfficialsBetter JobsMiltonPolitical Economy Author:Arnold Kling
“Constitutional provisions are not barriers to government misconduct. At best, they can be speed bumps.” GovernmentSpeedBarriersProvisionBumpsMisconductSpeed Bumps Author:Arnold Kling
“I have come to believe that politicians are in the business of 'marketing' their product to the public, by exaggerating threats and over-selling government solutions.” BelieveGovernmentPoliticalProductsPoliticianSolutionsThreatMarketingSellingExaggerating Author:Arnold Kling
