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Dubner and Levitt on unintended consequences
Stephen J. Dubner and Steven Levitt, authors of Freakonomics, have a great article in the New York Times Magazine today.
They basically discuss policies that are meant to help people, but end up backfiring. Milton Friedman would argue that every such policy has backfired, but Levitt and Dubner don't go that far:
"So does this mean that every law designed to help endangered animals, poor people and the disabled is bound to fail? Of course not. But with a government that is regularly begged for relief — these days, from mortgage woes, health-care costs and tax burdens — and with every presidential hopeful making daily promises to address these woes, it might be worth encouraging the winning candidate to think twice (or even 8 or 10 times) before rushing off to do good. Because if there is any law more powerful than the ones constructed in a place like Washington, it is the law of unintended consequences."
Unfortunately, most Americans don't realize the truths contained in this article. They think that throwing money at a problem will automatically fix it. Then, politicians listen to these constituents and make bad policy in order get reelected. The cycle needs to stop.
-Matt Hittle
Posted at 12:11PM Jan 20, 2008 by College Republicans in Economics | Comments[0]
