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When government subsidies strike!

March 09, 2009

Will Wilkinson speaks the truth from Iowa City on the effects of government "investment" in the ethanol industry:

How much money has been sunk into this? Lots. That’s money that could have been spent more productively, but wasn’t. So we’re poorer. And all the tens of thousands of folks right here in Iowa working in corn ethanol are misallocated human capital. So we’re poorer. These are skilled, hardworking people whose diligence and effort is, thanks to the government, making the world worse. And the case of ethanol is no anomaly. It is completely typical.

Read the whole thing the next time you think that government "investment," especially when "green" stuff is involved.

Tags: corporate welfare.ethanol.Will Wilkinson.