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Hoover Dam: Worst Investment in History

bassboat Wrote: Sep 03, 2012 9:53 AM
If government spent the money it was wasted, history proves that government does not allocate resources properly. The 45 million people would have moved elsewhere where there was water. What have those areas been deprived of by this misallocation of people? What lower standard of living hace the people of the southwest had to endure caused by this influx of 45 million people? Unintended consequences are always the result of government intervention.

Economics professor Bernard Malamud not once but twice invited the crowd in Las Vegas to visit nearby Hoover Dam to see for themselves an example of the productive assets that were created by Franklin Delano Roosevelt's (FDR) New Deal. Professor Malamud was recruited to plead the Keynesian side of the argument in an "FDR's Depression Policies: Good Deal or Raw Deal?" debate with the Foundation for Economic Education's (FEE) Lawrence Reed during FreedomFest.

I finished my masters degree from UNLV under the tutelage of Murray Rothbard but I started my coursework with a class or two from professor Malamud, who, while...

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