How to Structure a Political Economy

    The last few years of taxpayer-funded bailouts, backstops, and so-called “stimulus” spending have left Americans with a political economy in which Washington, not the market, decides where to allocate capital. Until now, Washington’s interventions have been put together in haphazard fashion – $300 billion here, $700 billion there, etc. But under the guise of “financial reform,” Democrats last Friday unveiled their plan to make this | Read More »