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March 12, 2006
The Consequences of Congress Controlling Who Can Buy and Sell
As a follow-up thought to my post on "national security" protectionists and corruption, Tim Worstall at the Adam Smith Institute Blog, in a similar vein, references the following quote from P.J. O’Rourke:
"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators."
It’s a thought worth remembering as our Republican, "free market" Congress (aided by a few Democrats, by the way) seeks to expand its control of which foreign entities are allowed to buy U.S. companies and properties.
Worstall also reminds us that former Congressman Randy Cunningham, just sentenced to over eight years in prison, actually had a price list.
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