Wednesday, November 10, 2004

Updated November 10, 2004 at 2:50 pm
Markets, Government Actions, Barack Obama and Gary Becker.
Yet another bit of indirect advice from a University of Chicago colleague to Barack Obama, U. S. Senator-Elect and Senior Lecturer in Law at the University of Chicago Law School. As Senator Obama goes off to Washington, DC, pen in hand, to write and pass some legislation, perhaps he will reflect a bit on Professor Gary Becker’s cautionary words, which might be especially helpful to those who would legislate intervention in the free market.

“Demonstrating that a set of government decisions would improve matters is not the same as demonstrating that actual government decisions would do so.” Gary S. Becker, Nobel Prize Laureate in Economics, 1992.

Gary Becker is University Professor of Economics and Sociology at the University of Chicago and Rose-Marie and Jack R. Anderson Senior Fellow at Stanford's Hoover Institution. Professor Becker received his Master’s and Ph.D. degrees in economics from the University of Chicago and has been teaching there since 1970. Who better to advise new U. S. Senators, or old ones for that matter, on the efficacy, or lack thereof, of government action?
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