Sowell, Williams, and Stossel: Economics and Bailouts

Great columns from yesterday. (pic credit: PPC and Hayek Center)

Thomas Sowell : The Rush to Wait: "The big story last week was the incredible Congressional rush to pass a bill that was more than a thousand pages long in just two days-- after which it sat on the President's desk for three days while the Obamas were away on a holiday."

Walter E. Williams : Economic Miracle: "The idea that even the brightest person or group of bright people, much less the U.S. Congress, can wisely manage an economy has to be the height of arrogance and conceit. Why? It is impossible for anyone to possess the knowledge that would be necessary for such an undertaking. At the risk of boring you, let's go through a small example that proves such knowledge is impossible."

Thomas Sowell : Upside Down Economics: "From television specials to newspaper editorials, the media are pushing the idea that current economic problems were caused by the market and that only the government can rescue us."

John Stossel : Real Jobs Create Wealth: "So President Obama got his stimulus bill. For a mere $787 billion, he has pledged to 'save or create' 3.5 million jobs. That's only $224,857 and change per job! (If I still have my job next year, will he take credit for saving it?)"

Related links:
Iron Laws of Liberalism: 50 Years of Bad Weather
road to serfdom: Signs of the Times
Raising Taxes Won't Solve California's Budget Deficit - WSJ.com
Tooth Fairy Economics - by Tom Woods