Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

April 28, 2009

Quote Of The Day

by Brad Warbiany

Ezra Klein, who seems almost surprised that the predictions of public choice theory has come to pass:

Matt is right to say that a lot of what passed for “financial innovation” was in fact innovative efforts at regulatory arbitrage.

Well, yeah. When you have a massive regulatory state, don’t be surprised that people spend as much time trying to game the system as they do trying to offer a worthwhile product to the public.

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