Our friend Bob Smith, blogging on Squall Lines, gives us an excellent example of the folly of federal stimulus spending — a marine biodiversity center in Wilmington that is absorbing money on the hope that “if you build it, they (that is, entrepreneurs) will come.”
Only people who are spending their own money have any idea where to put it to increase the output of goods and services consumers want. All that politicians and bureaucrats can do is spend money on make-work projects.
