I love Adam Smith. He didn’t get everything right, but he got the big things right. Oftentimes, he really nailed it.
Today, I woke up early and my newspaper had not arrived yet. So I cracked open The Wealth of Nations on the infrastructure section, Book V, Part III.
With the highway bill soon in front of Congress, and there being lots of agitation to increase federal funding, Smith had words of wisdom for policymakers. He advocated user-pays and decentralization.
Read more at http://www.cato.org/blog/adam-smith-infrastructure
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