PRESIDENT Clinton is desperately looking for places to cut the budget. He even hints of hitting the Rural Electrification Administration. REA is an egregious example of government subsidies that enrich the wealthy while retarding environmentally beneficial innovation. REA was established in 1935 by President Roosevelt. It subsidized the delivery of electric power to remote rural […]

ECONOMIES are like ecosystems in that everything is tied to everything else. We cannot do only one thing. Protecting owls by limiting timber harvest has multiple consequences, mostly unintended. People anticipate outcomes, estimate how regulations affect their security and livelihood, and often change their behavior accordingly. Regulations that ignore this interconnectedness can make matters worse, […]