People have a great misconception in this way, they think way they solve things by electing the right people. Its nice to elect the right people, but that isn’t the way you solve them. The way you solve things is by making it politically profitable for the wrong people to do the right things!
The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt
Thursday, October 22, 2009
Milton Friedman: Why Electing The Right People Isn't Enough
People have a great misconception in this way, they think way they solve things by electing the right people. Its nice to elect the right people, but that isn’t the way you solve them. The way you solve things is by making it politically profitable for the wrong people to do the right things!
Labels:
elections,
governance,
incentives,
Milton Friedman
Subscribe to:
Post Comments (Atom)
1 comment:
Friedman's genius is here apparent. How American, how limited government, how perfectly stated... our founding principles.
"People have a great misconception in this way, they think way they solve things by electing the right people. Its nice to elect the right people, but that isn’t the way you solve them. The way you solve things is by making it politically profitable for the wrong people to do the right things!"
Post a Comment