Pay attention to the West Virginia *Democratic* Primary, too.
The Democratic primary in West Virginia will likely give us some interesting data on how badly coal is going to hurt Hillary Clinton.Read More »
In 1913, for instance, thinking it was being overcharged by the steel companies for armor plate for warships, the federal government decided to build its own plant. It estimated that a plant with a 10,000-ton annual capacity could produce armor plate for only 70% of what the steel companies charged.
When the plant was finally finished, however — three years after World War I had ended — it was millions over budget and able to produce armor plate only at twice what the steel companies charged. It produced one batch and then shut down, never to reopen.
The reasons listed for why government can’t run businesses include: