The Electric Commentary

Monday, December 26, 2005

Cafe Hayek and the Hangover Machine

This argument applies to all sorts of bad government programs.


  • "The misunderstanding in these letters is evidence that economists are the last people who are obsessed with prices -- the last people who believe that the only things that matter are money and costs expressed in money. Rather, it's non-economists who are obsessed with money measures and money prices; it's non-economists who are most prone to overlook costs that aren't pecuniary -- to assume that only when people make monetary outlays do people incur costs."

    I think the single best thing that has happened to American popular culture in the lat couple years has been the pop economics fad that my buddy dhodge has written about. I think peopel are finally beginning to understand the real costs of a variety of activities, and, I hope, this will change people's actions, and especially their voting behaviors. The above paragraph ought to be posted on the walls of every middle-school classroom in the country.

    By Blogger MDS, at 10:30 AM  

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