Here’s a letter to the Wall Street Journal:
Editor:
You report that “The Biden administration, eager to highlight a signature economic initiative as elections approach, is expected to award billions of dollars in subsidies to Intel, Taiwan Semiconductor Manufacturing Co., or TSMC, and other top semiconductor companies in coming weeks to help build new factories” (“Eager for Economic Wins, Biden to Announce Billions for Advanced Chips,” Jan. 27).
Let’s rewrite this sentence so that it more accurately reveals reality:
“The Biden campaign, eager to highlight a signature economic initiative as elections approach, is expected to buy votes by giving away taxpayer dollars to successful corporations in coming weeks to help bribe wealthy investors and CEOs as it simultaneously bamboozles voters into thinking that they are enriched when government forces resources into uses not justified by market signals.”
Sincerely,
Donald J. Boudreaux
Professor of Economics
and
Martha and Nelson Getchell Chair for the Study of Free Market Capitalism at the Mercatus Center
George Mason University
Fairfax, VA 22030
