Fantastic article today by LRC's Butler Shaffer, who wonderfully explains how understanding economics requires an understanding of the role incentives play in human behavior.
Notably, Shaffer points out that while firms in a marketplace system are rewarded by the successful production of goods and services people value, governmental systems are rewarded by the collective failure to do so.
If I have one quibble with the piece, it's Butler's dismissal of "American Idol Americans," or the assumption or idea that folks who watch such a show would necessarily be devoid of interest in or knowledge of the latest torturous government program known as "health care reform."
I understand the effect Mr. Shaffer's going for but, ironically, American Idol is in reality one of the only true examples of market competition available on TV for America's youth -- certainly you will not find reporters on Meet the Press or Fox News extolling such virtues -- and is a big reason why I, for one, am a fan.
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