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Less Work, Less Economic Growth – the Unintended Consequences of ObamaCare
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Less Work, Less Economic Growth – the Unintended Consequences of ObamaCare

Democracy and Power 106: Unintended Consequences The law of unintended consequences is what happens when a simple system tries to regulate a complex system.   The political system is simple; it operates with limited information (rational ignorance), short time horizons, low feedback, and poor and misaligned incentives.  Society, in contrast, is a complex, evolving, high-feedback, incentive-driven system.  When a simple system tries to regulate a complex system

01/07/2014
Detroit & Stockton Bankruptcies Expose Democracy's Great Flaw – Short-Term Politics Trumps Long Term Planning
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Detroit & Stockton Bankruptcies Expose Democracy's Great Flaw – Short-Term Politics Trumps Long Term Planning

Democracy and Power 106: A Politician Receives No Reward for Good Policy or Penalty for Bad PolicyIt is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. —Thomas SowellIn a democracy, a politician has no ownership-interest in the state. There is no financial gain for wise, policy decisions, nor  is there financial loss for bad decisions.

07/28/2013
The ObamaCare “Train Wreck” - Baucus the Conductor Jumps Before the Carnage
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The ObamaCare “Train Wreck” - Baucus the Conductor Jumps Before the Carnage

Democracy and Power 106: A Politician Receives No Financial Gain for Good Policy or Punishment for Bad PolicyIt is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. —Thomas SowellIn a democracy, a politician has no ownership-interest in the state. There is no financial gain for wise policy decisions; nor is there a financial loss for bad decisions.  A politician’s rewards are immediate – power, prestige, and perquisites.

05/02/2013
It’s the Politicians, Stupid: Governing Elites have Failed
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It’s the Politicians, Stupid: Governing Elites have Failed

Democracy and Power 106:  A politician receives no financial gain for good policy or punishment for bad policy.It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. – Thomas Sowell

08/01/2012
Three Texas Counties Opted Out of Social Security
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Three Texas Counties Opted Out of Social Security

Democracy and Power 106:  A politician receives no financial gain for good policy or punishment for bad policy. It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. – Thomas Sowell

09/27/2011
Stop the Fiscal War Against Our Children: Now
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Stop the Fiscal War Against Our Children: Now

Democracy and Power 106:  A politician receives no financial gain for good policy or punishment for bad policy It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. – Thomas Sowell  

07/15/2011
Reid and Sacrifice
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Reid and Sacrifice

Democracy and Power 106:  A politician receives no financial gain for good policy or punishment for bad policy.  

07/07/2011
Illinois Lawmakers Pass 66 Percent Income Tax Hike
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Illinois Lawmakers Pass 66 Percent Income Tax Hike

Democracy and Power 106:  A politician receives no financial gain for good policy or punishment for bad policy.  It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. – Thomas Sowell

01/18/2011
Al Gore and Ethanol
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Al Gore and Ethanol

Democracy and Power 106: A Politician Receives No Financial Gain for Good Policy or Punishment for Bad Policy It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. – Thomas Sowell

12/02/2010
Obamacare’s Devastating Consequences: II
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Obamacare’s Devastating Consequences: II

Democracy and Power 106:  A politician receives no financial gain for good policy or punishment for bad policy. It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong. – Thomas Sowell

09/08/2010

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