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February 17, 2014

"One Bad Law Usually Leads to Others: The Housing Bubble and Dodd-Frank"

George Leef is absolutely right

But it's unsurprising. This is how politicians guarantee work for themselves. (Which prompts me to plug again the terrific article, "Time Dependent Information Costs, Price Controls, and Successive Government Intervention,” John R. Lott, Jr. and Gertrud Fremling, Journal of Law, Economics, and Organization, Fall 1989.)


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When lawyers (called lobbyists) write bills, when lawyers (called legislators) pass laws, when executives (called governors) sign laws, when lawyers (called regulators) expand laws, when lawyers (called attorneys) argue about laws before lawyers (called judges) at trials which are publicized by lawyers (called reporters), this is called democracy.


Having to pay JSTOR to provide me with a copy of a study that was subsidized with taxpayer money is disgusting. Aaron Schwartz was right.

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