Tuesday, October 20, 2009

Another example of the free lunch in action

The sort of wealth transfer scheme that Arthur Goldwag describes here is exactly the sort of process that David Cay Johnston wrote about at length in Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill).

While such actions have been facilitated under the rubric of "free market" principles, Johnston explained to Reason magazine that what has actually occurred is a rigging of the market to benefit the wealthiest of the wealthy at the expense of everyone else.

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