How many times have you seen a politician, businessman, union, or activist group clamoring for the government to do something on the grounds that it will improve the public weal? “We need higher minimum wages to benefit the working class,” a union official says. A Rust Belt politician claims, “Higher tariffs on steel goods protect American manufacturing and create jobs.” An American Medical Association spokesperson declares, “The government has a duty to increase regulatory standards on drugs and medicine to keep the public healthy.” Or perhaps, to paraphrase so many economists and Wall Street bankers, “The Federal Reserve must bail out large financial institutions during a crisis to stave off a depression.”At face value, these are simple examples of honest people motivated to use the
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