Richard Fulmer is a freelance writer from Humble, Texas, and the winner of the third annual Beth A. Hoffman Memorial Prize for Economic Writing for his article "Cavemen and Middlemen," from the April 2012 Freeman.
Inflation wouldn’t be so hard to understand if it wasn’t wrapped up in so much untruth, wishful thinking, and misdirection, Richard Fulmer says.
As poor as governments are at allocating known tasks, they are even worse at assigning tasks that don’t yet exist.
Between the current financial mess and the debate over carbon-dioxide emissions controls, there is a lot of talk about regulation these days. Any time government regulators try to do much more than lay out the basic rules of the game, unintended consequences and moral hazards rear their ugly heads.
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