I do understand the basic instinct of "this problem is really bad so we must do something...and now!" I would suggest that we keep in mind the less obvious, but no less important intuition: "this problem is really bad and that means a lot of what we are tempted to do could make it even worse."
—Tyler Cowen on taxing China
On the Way To The Dressing Room After The Game
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Celebrated Scenes III
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