The Housing-Oil Analogy
By Bryan Caplan
Housing: Oil :: Today: the Seventies
In both cases, the public flipped out over the market outcome, government rushed to “do something,” and ended up creating a incoherent set of morbidly expensive regulations. And in both cases, the solution is to pull the plug and let the market work.
Maybe in 2012, we’ll know the answer to:
Obama: Carter :: ??? : Reagan