There are a few irrefutable laws of basic economics that are understood by practically everyone. When the price of a good rises, people will buy less of it. This is common knowledge to anyone who has bought anything ever. There is also the law of unintended consequences which states that actions, laws, and policies often have secondary effects that differ from the original actions intentions. We have seen this inevitably played out in most laws passed by Congress. Both of these ideas have been around for thousands of years and the father of economics, Adam Smith, articulated them himself...
- Quotes of the day Allahpundit 6 hours ago
- Video: Nothing to see here: Obama is “Faithfully executing the laws” Jazz Shaw 7 hours ago
- Congressman Bob Goodlattte assures us that there is no impeachment in the offing Jazz Shaw 9 hours ago
- The border crisis isn’t Obama’s Katrina – it’s worse Noah Rothman 10 hours ago
- Uh oh: Moscow claims Ukraine attack inside Russian territory killed civilians Noah Rothman 12 hours ago
- The Lerner Files: “smidgens upon smidgens” of corruption Jazz Shaw 13 hours ago