“It has been observed that a pure democracy if it were practicable would be the most perfect government. Experience has proved that no position is more false than this. The ancient democracies in which the people themselves deliberated never possessed one good feature of government. Their very character was tyranny; their figure deformity.” Alexander Hamilton
Megan McArdle, on the Solyndra mess:
When banks engage in this sort of behavior, we call it a bubble, and try to figure out how to fix things so they won’t do it again. When government agencies do this, we call it a weekday.
Zing!
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