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A Monument to Mercantilist Superstitions Shuttered!

O happy day!

Screen Shot 2015-07-01 at 8.17.38 AM No one deserves more credit – and I’m not sure that anyone deserves even as much credit – for bringing about the closure (at midnight last night) of that great geyser of cronyism, the U.S. Export-Import Bank, than does my intrepid Mercatus Center colleague Veronique de Rugy.  This feisty economist from France has, over the past few years and on many different fronts, toiled tirelessly and brilliantly to expose the lies, half-truths, deep economic ignorance, and shameless cronyism upon which popular and political support for the Ex-Im Bank rested.

All Americans – save those formally privileged few whose wallets and purses are today lighter because of their reduced receipts of government-created rents – should this evening raise a glass of Pol Roger Brut or some other genuine and excellent champagne to Vero.  She’s genuinely and excellently heroic!


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