Lawmakers love laws. They love to write ‘em, love to pass ‘em, love to amend ‘em. But the one law they seem to completely ignore is the Law of Unintended Consequences.
ABC’s brilliant John Stossel explains the unfortunate intersection of Cash-for-Clunkers and the Law of Unintended Consequences:
Another unintended consequence of the Cash for Clunkers program is that poor people who can’t afford new cars – or expensive used cars — will be crushed along with all those clunkers. If you can only afford $500 – $1,000 for a car, you’ll find many of these vehicles are now unavailable. They have been sent to the junk yard thanks to this program.
Nobel Prize for Economics, coming up.
Source: John Stossel
