James Buchanan, a Star Economist Who Understood Obamacare
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Jan. 10 (Bloomberg) -- It is sad, but telling, that theeconomist James Buchanan died just as Congress was finishing upthe details of its budget deal. Or, for that matter, that this93-year-old Nobel Memorial Prize winner left us just as the U.S.entered the stage of enforcement of its new health-care law.
Almost everyone involved in the budget deal agrees that itis more a product of interest groups than a principledconstruct. The same can be said for Obamacare.