Romer and Summers Should Resign in Protest

According to today’s New York Times,

The Obama administration is planning to use the government’s enormous buying power to prod private companies to improve wages and benefits for millions of workers, according to White House officials and several interest groups briefed on the plan.

This kind of intervention cannot possibly be beneficial; it is an excuse for redistribution to organized labor and politically connected businesses.  It is hard to imagine a worse idea.

See also Alex Tabarrok’s excellent critique at Marginal Revolution.

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