Friday, November 21, 2008

Jonah Goldberg on opportunity costs 

The problem with guns is that we pay for them with butter.
Yes, of course we do; we draw that graph in principles still. That's not a problem but reality. Goldberg is commenting, by the way, on Glenn Reynolds' discovery of Wagner's Law. That is not generally very well received in the public finance literature, yet tests of it persist in journals to this day.