"Dictatorships are not hamstrung by the preferences of voters for, say, a pervasive welfare state," says Kevin Hassett of the American Enterprise Institute. Unless we abandon welfare programs, he suggests, the free world might be overwhelmed by the staggering efficiency of free-market totalitarianism. Is it just me, or have conservatives been waxing poetic about the benefits of dictatorship lately?
A Pro-Evil Mutual Fund? For centuries, the argument in favor of laissez-faire capitalism has been simple. If you step back and let businesses pursue profit without restraint, legitimate needs and desires will be taken care of in an efficient manner. Moral concerns, the argument goes, are better handled by consumers and investors voting with dollars than governments coercing with legislation. Now, Cato Institute scholar and Fox News columnist Steven Milloy is worried ideologically motivated investors might be putting business profits in danger. He's forming a new mutual fund to fight their leftist influence.