November 3, 2010
Eliminate Subsidies?
Matt Yglesias is right when he notes that "The large-scale subsidies the housing sector is one of the least market-oriented aspects of the American economy,..." and suggests that they be eliminated.
Agreed, they should be eliminated.
As he is so keen on making the economy more market-oriented he should not object to properly extending his principle.
Let's get rid of all the various federal, state and local monetary subsidies, organizational protective legislation and imposed monopolies.
This will go far towards satisfying Matt's desire for a more market-oriented economy.
An extra benefit might be reducing the long-term deficit as long as the reduced expenditures aren't spent on other market distorting activities like wars.
