Why governments' attempts to pick winners produce more losers than winners.
There are currently no posts in this category.
"The bounty to the white-herring fishery is a tonnage bounty; and is proportioned to the burden of the ship, not to her diligence or success in the fishery; and it has, I am afraid, been too common for vessels to fit out for the sole purpose of catching, not the fish, but the bounty", The Wealth of Nations, Book IV Ch.V
