"...at the very least, economists advocating government intervention in markets would be well advised to recognize that the measures they advocate will, once enacted, have a life --including supporters-- of its own.."I think this is why the series of measures introduced by well intended Indonesian economists decades ago --rice price stabilization and import restriction, fuel subsidies, to name a few --, are still fiercely defended by many supporters regardless their irrelevancy to the current situation.
Thursday, October 30, 2008
Old Policies Don't Simply Die
In an interesting paper of The Political Economy of Controls: American Sugar, by Anne Krueger, the closing paragraph reads:
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Sayangnya, orang2 tersebut berada di lingkungan sekitar anda sendiri.
ReplyDeleteBagi saya, niat baik tanpa akal sehat akan kacau. Akal sehat tanpa niat baik, juga akan sia-sia...