ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax


Hanson's closing words there: "...it also offers more chances to favorably split credit from blame."
I'd be more inclined to think of that as a fault specific to politicians if I hadn't watched another set of professionals seeking every chance to favorably split profit from risk.
And getting paid a lot more to do so.
We're watching the economists do exactly the same sort of thing as Hansen describes with the economic catastrophe the economists have managed to produce for us.
Taking credits and avoiding responsibility is so usual that there is an archetypal picture and phrase of "sweeping the dust under the carpet." It shouldn't come as surprise that politicians do that as well.
Democarats have decided that they are good at spending money, and leave it to Republicans to do the right thing and raise taxes.
It is much better to not understand the results of something complicated, than of something simple. So, all legislation is complicated.