Wednesday, April 21, 2010

From Marginal Revolution

File this under the law of unintended (but not unexpected) consequences of centralized planning. While unintended consequences are ubiquitous and therefore also characterize the system that stands in opposition to the centrally planned order - the market order or capitalism the feedback and adjustment mechanism under the former is much faster and closer to the decision maker (obviously) making the adjustment more in line with desires.


Buried on p.A12 on The New York Times:

Fearing that health insurance premiums may shoot up in the next few years, Senate Democrats laid a foundation on Tuesday for federal regulation of rates, four weeks after President Obama signed a law intended to rein in soaring health costs.

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