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...
In the late '70s, I was associated with the school lunch program. There was a big push to make the lunches more "nutritious", with more vegetables. Everywhere it was tried, it failed. Finally, they decided that pizza and burgers weren't so bad, especially since the kids actually ate them. Here we go again!
- Charlie Rangel: The explosion today in Harlem is “our community’s 9/11″ Allahpundit 22 minutes ago
- Farmers, industry getting pretty nervous about the EPA’s incoming water regs Erika Johnsen 1 hour ago
- Brennan: We wouldn’t do a “tremendous” amount of spying, hacking, and monitoring of Congress Ed Morrissey 1 hour ago
- WaPo: Hillary adviser raised funds illegally for 2008 shadow campaign? Ed Morrissey 2 hours ago
- Oh, by the way: Obama just quietly suspended ObamaCare’s individual mandate until 2016 Allahpundit 3 hours ago
- Video: Oh, it’s HBO! Ed Morrissey 3 hours ago