Sunday, June 20, 2010


  • You know things are bad in North Korea when the government starts allowing private markets to operate. Money quote: "The latest policy switch, though, stands as an acknowledgment that the currency move was a failure and that only capitalist-style trading can prevent widespread famine."
  • The Washington Post reports that as China spends on infrastructure with abandon that there are growing questions over how much of it is actually needed. Government is a notoriously bad allocator of resources.
  • Thomas Sowell revisits the Great Depression and the idea government can cure economic ills. Of course, it actually can -- but usually by getting out of the way.

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