RealClearPolitics | Robert Tracinski | May. 8, 2008
In recent weeks, Congress has been furiously backtracking on ethanol, with Democrats considering legislation that would freeze ethanol subsidies and mandates at their current level, while Republicans are talking about rolling back the whole system. The buzzword on Capitol Hill is that government supports for ethanol in gasoline have led to “unintended consequences”: a cruel tradeoff of food for fuel that has contributed to a global increase in food prices.
This recognition of the so-called Law of Unintended Consequences–coming from the mouths of everyone from Republican Representative Jeff Flake to Democratic Majority Leader Steny Hoyer–might seem like a good thing, like an overdue expression of skepticism about the wisdom of government intervention in a free economy. The problem is that “unintended consequences” are being invoked in this case by people who have never before expressed such skepticism about the power of government–and who are not likely to do so again. [Read more…]