How Will You Spend Your $2,800?

by Don Boudreaux on May 20, 2009

in Frenetic Fiddling

We Americans are lucky. 
President Obama, although having zero experience as an entrepreneur or
in the automotive industry, has designed fuel-efficiency standards that
(he assures us) will save the average car buyer $2,800 over the life of
his or her vehicle
.  What a deal!

No one in Detroit, in the U.K., in
Japan, in Germany, in Korea, in Sweden, in Italy, in France – no one anywhere, not even
persons with decades of experience producing and selling automobiles –
has figured out how to devise vehicles that are so obviously attractive
to American consumers — and, therefore, so rich in profit-earning
potential for manufacturers — as are the ones now promised to us by the Obama administration.

And we can admire not only Mr. Obama's industrial and commercial
genius, but also his magnanimity in offering to the public, free of
charge, his money-saving idea.  He could have earned billions of
dollars in profit by putting his idea to the test in the market.  But
no: by simply forcing us to use his idea and charging us nothing for it, he'll forego
this profit.  We Americans are lucky indeed.

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