I can never figure out why people are genuinely surprised when government schemes explode in taxpayers’ faces. Just about every government program is some flavor of Ponzi scheme, confidence swindle, or extortion racket. Every one is a time bomb whose clock is ticking from the start. In designing these bombs, the long delay between the set-up and the blow-up isn’t a bug, as they say in the software business, it’s a feature. When they finally blow, the solution is always the same: more government oversight, regulation, and taxpayer sacrifice. That’s a design feature too.
The Booby-Trapped Economy
The Booby-Trapped Economy
The Booby-Trapped Economy
I can never figure out why people are genuinely surprised when government schemes explode in taxpayers’ faces. Just about every government program is some flavor of Ponzi scheme, confidence swindle, or extortion racket. Every one is a time bomb whose clock is ticking from the start. In designing these bombs, the long delay between the set-up and the blow-up isn’t a bug, as they say in the software business, it’s a feature. When they finally blow, the solution is always the same: more government oversight, regulation, and taxpayer sacrifice. That’s a design feature too.