Saturday, December 27, 2008

A Small Addendum

Teddy will be happy with this. To my piece on state governments. I noticed this post from Greg Mankiw via Tyler Cowen..........of course neither one of those guys apparently remembers this and hence they both miss the point that whether or not something is efficient hasn't mattered to a politician since 1905. Hell, that sounds like something you'd see on an old Miller Beer bottle. "Corrupt as Hell since 1905!"

While I respect Mankiw's work, I still have to say to him that questions of efficiency when it comes to giving away almost a trillion dollars still doesn't matter to a politician today......even if you are at Harvard.

Please excuse the short post - the holidays and all..........

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