Thursday, June 21, 2007

to resist the temptation of tinkering

Russell Roberts at Cafe Hayek addresses another harebrained scheme produced by the inability of humans to resist the temptation of tinkering. He quarrels, correctly imho, with the following proposal:
Globalization has brought huge overall benefits, but earnings for most U.S. workers -- even those with college degrees -- have been falling recently; inequality is greater now than at any other time in the last 70 years. Whatever the cause, the result has been a surge in protectionism. To save globalization, policymakers must spread its gains more widely. The best way to do that is by redistributing income. -- Kenneth Scheve and Matthew Slaughter

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