Wednesday, February 11, 2009

DC replaces NY

One of my former students is a sell-side analyst who follows the construction industry. Instead of conference calls with the companies she tracks, she now spends her time traveling to Washington. One of von Hayek's biggest criticism of Keynes is that politicians, rather than markets, allocate capital.

The chart at left identifies the new winners and losers of the Obama regime, i.e., those who can curry government favor.

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