Any causal observer of the U.S. Congress and of state legislatures knows the definition of logrolling or vote trading: members of the House (and Senate) exchange votes with one another to secure passage of a spending program that benefits one of them, but not the other. So, for example, Senator H agrees to support…
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Adam Smith, the first and still best of all of the world’s economists and moral philosophers, once wrote in opposition to all systems of “preference and restraint”. That lesson is lost on most politicians and all special pleaders who support re-authorization of the taxpayer-financed Export-Import Bank, whose funding is once again set to expire…
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