“Obama’s false history of public investment”
A don’t miss is Larry Schweikart and Burton Folsom in today’s Wall Street Journal. These are two excellent economic historians whose works I frequently used during my teaching days, especially for the economic history of the U. S.
Highlights:
“Entrepreneurs built our roads, rails and canals far better than government did.”
The conclusion:
There is a lesson here for President Obama: Government “investment” in infrastructure is often wasteful and tends to support decaying or stagnant technologies. Let the entrepreneurs decide what infrastructure the country needs, and most of the time they will build it themselves.
