From today's Wall Street Journal on the great Freidrich Hayek
"Even when the state tries to steer only part of the economy in the name of the 'public good,' the power of the state corrupts those who wield that power. Hayek pointed out that powerful bureaucracies don't attract angels—they attract people who enjoy running the lives of others. They tend to take care of their friends before taking care of others. And they find increasing that power attractive. Crony capitalism shouldn't be confused with the real thing."
Read the whole thing.
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