Tuesday, September 28, 2010

Clinton on Hayek ... in agreement

Hayek, The Fatal Conceit: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."
Bill Clinton, 9/21: "Do you know how many political and economic decisions are made in this world by people who don't know what in the living daylights they are talking about?"
Hat tip: Newmark

In proof of point, 75% of the states that banned texting while driving have seen an increase in driving fatalities. Drivers move their device down lower in the car to avoid detection, making it harder to read and thus absorbing more concentration. Accidents go up and Bob's your uncle. (HT: Cafe Hayek)

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