in the middle of the night

President Obama’s recently released budget blueprint proposes to dramatically increase the government’s share of spending and decision-making in the economy. He thinks he knows better than the people at large what’s good for them.

And yet, our economic strength as a country has always been driven by the collective self-interested actions of millions of business owners and workers. The economy works best when people are free to make their own choices and pursue their own interests.

Our economic success is also driven by the wisdom of crowds. Under proper conditions, large groups of people make much better decisions than individuals.

President Obama may have won the election by 53% or so of the vote, but the other 47% of the electorate knows a shell game when they see one.