Scott Sumner lays out a great explanation as to why we can all say, "Well, here's another nice mess you've gotten me into!"
Last month the great economist Armen Alchian passed away. Among so many other contributions such as the importance of property rights, Alchian is famous for the Alchian-Allen Theorem which for example tells us why we're more likely to find the highest quality apples in Washington, D.C. rather than Washington state where they are grown. Don Boudreaux shared his thoughts on Alchian in this brief Cato Daily Podcast. David Henderson offered his remembrance in this WSJ article.
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