So argues my old friend and colleague Gary Wolfram, professor of economics at Hillsdale, in this Detroit News article.
Like FDR, who was completely ignorant of economics, Obama seems to think that prosperity will return no matter what disincentives the government creates and no matter how much it interferes with the allocation of resources. He’s like a kid who strips the bark off an apple tree and believes that it will nevertheless produce just as many apples as in its best previous seasons.
