Saving Consumers from Lower Prices | Cato Institute

Saving Consumers from Lower Prices | Cato Institute: "Why does the Obama administration claim it wants you to pay less for your airline ticket, but more for the shrimp you buy?"

"When I took my first course in antitrust economics, the concern at the time was that GM would monopolize the automobile market, that IBM would monopolize the computer market, and that U.S. Steel would monopolize the steel industry. The antitrust whizzes at Justice missed the possibility that Japanese, South Korean and many other automobile producers would grab a major share of both the U.S. and global markets, and that GM would end up in bankruptcy with a government bailout. After decades of trying to break up IBM, even the folks at Justice finally realized that because of the rapidity of technological change, no computer company was likely to remain on top for very long. Many millions of taxpayer dollars were wasted because too many in government had a static view of the world. Finally, U.S. Steel has been losing money and market share for years."

"Many Americans eat shrimp, but very few Americans catch shrimp, so the Obama administration would prefer that most consumers have their real incomes reduced by higher shrimp prices in order to benefit a relatively few producers. If you want to buy American shrimp and pay more, it should be your choice."

North Korea's Latest American Hostage | Cato Institute

North Korea's Latest American Hostage | Cato Institute: " the more the U.S. invests in releasing prisoners in foreign lands, the more valuable they will come to be seen — thus creating a greater incentive to grab Americans in the future."