{"id":1324,"date":"2009-05-20T09:35:15","date_gmt":"2009-05-20T17:35:15","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=1324"},"modified":"2009-05-28T17:33:51","modified_gmt":"2009-05-29T01:33:51","slug":"why-government-cant-run-a-business","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/why-government-cant-run-a-business\/","title":{"rendered":"Why Government Can&#8217;t Run a Business"},"content":{"rendered":"<p>One of the <a href=\"http:\/\/online.wsj.com\/article\/SB124277530070436823.html\">best encapsulations<\/a> I have ever read on the subject.\u00a0 Sample:<\/p>\n<blockquote><p><em>Politicians need headlines.<\/em> And this means they have a deep need to do something (&#8220;Sen. Snoot Moves on Widget Crisis!&#8221;), even when doing nothing would be the better option. Markets will always deal efficiently with gluts and shortages, but letting the market work doesn&#8217;t produce favorable headlines and, indeed, often produces the opposite (&#8220;Sen. Snoot Fails to Move on Widget Crisis!&#8221;).<\/p><\/blockquote>\n<p>Awesome stuff.\u00a0 This article should be required reading in every school purporting to teach introductory social science.<\/p>\n<p>FD:\u00a0 I&#8217;ve done my part in introducing the author, John Steele Gordon, into a curriculum; he has guest lectured in my &#8220;History of Scandal&#8221; course at NYU.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the best encapsulations I have ever read on the subject.\u00a0 Sample: Politicians need headlines. And this means they have a deep need to do something (&#8220;Sen. Snoot Moves on Widget Crisis!&#8221;), even when doing nothing would be the better option. Markets will always deal efficiently with gluts and shortages, but letting the market [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,21],"tags":[],"class_list":["post-1324","post","type-post","status-publish","format-standard","hentry","category-invisible-trade-offs","category-politics"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/1324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=1324"}],"version-history":[{"count":4,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/1324\/revisions"}],"predecessor-version":[{"id":1371,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/1324\/revisions\/1371"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=1324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=1324"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=1324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}