Economic Juveniles

Economist Richard Rahn had an excellent column in the August 16 Washington Times titled "Juveniles in Charge." It provides excellent lessons in property rights, and misguided economic policymaking.

The entire piece is worth reading, with the following worth highlighting here:

"The bad news is that the economy is not growing or creating jobs as the juveniles who control Washington predicted. Most clear-thinking adults, even without formal training in economics, can understand that if the government greatly increases regulations on business (not justified by serious cost-benefit analysis) and increases taxes on labor and capital, the cost of doing business will rise; hence, businesses will have to hire fewer workers. Obviously, these basic concepts have eluded a majority of the members of Congress and many in the administration because this is precisely what they have been doing."

The entire column can be read here.