Wednesday, February 11, 2009
On this day:

Stimulus: A history of folly

James K. Glassman doubts that President Obama's stimulus package will be any more effective than its predecessors, and quotes F.A. Hayek:
If man is not to do more harm than good in his efforts to improve the social order, he will have to learn that in this, as in all other fields where essential complexity of an organized kind prevails, he cannot acquire the full knowledge which would make mastery of the events possible. He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.