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Modern Democracy

Here’s a letter to MarketWatch:


Your story today headlined “Senators Elizabeth Warren and Chuck Schumer say U.S. should immediately cancel $50,000 in student loans for millions of borrowers” reaffirmed this realization: Modern democracy is a political system under which it is both a serious crime and an atrocious ethical offense for politicians to attempt to buy votes with their own money, but under which it is not only legal, but in the eyes of many saintly, for politicians to attempt to buy votes with other people’s money.

Donald J. Boudreaux
Professor of Economics
Martha and Nelson Getchell Chair for the Study of Free Market Capitalism at the Mercatus Center
George Mason University
Fairfax, VA 22030