Worst Ten Economic Mistakes of the 20th Century

We’ve always had lists. Billboard had its “top 40.” Fortune has its “Fortune 100.” Only a free-market economist could build a list of the “The Terrible 10: A Century of Economic Folly.” That economist is Burton Abrams, Professor of Economics at the University of Delaware, Research Fellow at the Independent Institute, and Director of their Government Cost Calculator (check it out at http://www.mygovcost.org/). What’s your favorite? Prohibition? Social Security? Medicare? Environment? In this episode, Bob and Burt cover them all, as well as the root causes. It is astonishing to see what all these mistakes have in common. Listen to this podcast and you’ll learn why the best pick up line of the 21st Century will soon be “What’s your favorite economic folly?”