June 24, 2010
Knowledge Problem

In today's WSJ: BP Relied on Faulty U.S. Data. Surprise, surprise, surprise.

ADDENDUM: Today's WSJ also has a letter from T. Norman Van Cott on the public choice aspects of Custer's debacle.

And for a few giggles see Al Gore and David Blood arguing that the swelling government debt (along with a host of other supposed ills) is the result of "free and unfettered markets." Relax fellas--maybe go for a massage.

Posted by E. Frank Stephenson at 07:29 PM

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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