Monday, April 9, 2018

How the Rules of the Game Screw the Lower Classes

Walter Williams is excellent here but don't forget his example of the price of taxi medallions is just that one example. There are many, many regulations that make it difficult for the lower classes to, as Williams puts it, get their foot on the lower rung of the ladder of economic advancement.

-Robert Wenzel  


  1. "Doesn't the free market control that too? The prices of the licesnse". What a dumb woman. If a licesnse is involved it is nearly always not free market. She can't even wrap her head around a simple problem like the government controlling the supply of something driving up the price. Nope that's the free market at work!


  2. Democracy screws minorities. Almost by definition.