The Trouble With Subsidies
I'm certainly not going to defend those AIG bonuses. But the trouble with populist outrage is that it bubbles over, sweeping from one justifiable issue across to many others. Waves of populism are now working their way through the American government on several fronts. The area I'm most worried about is trade, where populism leads to protectionism. The scandal of the moment, the bailout bonuses, will pass; in a year or two (one hopes) the U.S. government ... Full Story »
Posted by Leo Romero
