William Shughart | Monday December 7, 2015 at 10:00 AM PDT | Comments Off on Trading Votes in Congress to Get Everything Politicians Want
Any causal observer of the U.S. Congress and of state legislatures knows the definition of logrolling or vote trading: members of the House (and Senate) exchange votes with one another to secure passage of a spending program that benefits one of them, but not the other. So, for example, Senator H agrees to support...
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Tags: Export-Import Bank, logrolling, public choice, Surface Transportation Act of 2015
William Shughart | Friday May 8, 2015 at 9:18 AM PDT | Comments Off on The Ex-Im Bank Redux
Adam Smith, the first and still best of all of the world’s economists and moral philosophers, once wrote in opposition to all systems of “preference and restraint”. That lesson is lost on most politicians and all special pleaders who support re-authorization of the taxpayer-financed Export-Import Bank, whose funding is once again set to expire...
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Tags: Adam Smith, Bailouts, Budget and Tax Policy, Classical Liberalism, corporate welfare, Corporatism, Export-Import Bank, Fascism, Free Market, Government subsidies, Liberty, Lobbying, Public Choice, Rent-seeking