Prof. Peter Gordon has a few choice words for Joseph Stiglitz, yet another Liberal who would do well to acquaint himself with Public Choice.
But a speck of public choice analysis would challenge the simplicity of Stiglitz' prescription. And then there are the data. They show that the infrastructure investments he advocates do not necessarily work out as promised. Those who just presume that more dollars spent on more transit yields more social benefits deserve a strong dose of reality.