The central message of “Mitchell’s law” is certainly not something I concocted.
Economists and other policy experts have known for a couple of hundred years that politicians have a tendency to makes mistakes
and then use the resulting damage as a justification for even more intervention.
I simply gave this phenomenon a name so I didn’t have to offer repeat explanations.
Over and over and over and over again.
Today we’re going to look at another example of politicians demanding more intervention to address a problem caused by previous interventions.
In an article for National Review, Michael Cannon has a very depressing explanation of how government has messed up the market for insulin.
…a proposal by congressional Democrats to mandate that private insurance companies cap out-of-pocket spending on insulin…neglects to address the way the government drives up the cost of insulin. Further intervention would make matters worse…
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