Monday, April 29, 2013

It's not free enterprise and it's not free-markets

FEE President Lawrence Reed has an insightful article today at The Freeman that amounts to an even-handed rant (if such an animal exists!) on government officials aggrandizing themselves and their favored cronies on the public dime.  He's particularly annoyed by their insistence on calling such behavior "economic development" and arguing that it helps encourage entrepreneurial activity:
In recent decades, economic development has come to mean something other than the spontaneous, entrepreneurial phenomenon that built America. It is often thought of as a kind of activist, public-policy responsibility of state and local governments. Giving a special tax break to one particular firm because somebody in government thinks it’s a “good idea” is bad enough; worse yet is the growing business of doling out taxpayer cash and other forms of subsidy to specific companies and groups.  Many politicians find this approach attractive because it brings with it the pageantry of ribbon-cuttings and photo opportunities. They love to say, “Look at the jobs I created.”
Reed's article is both easy to read and entertaining.  Check it out here.