Politicians accumulating money, power, and prestige

Glenn Reynolds writes in USA Today,

politicians don’t care, except to the extent that we make them care. Whatever they say when they’re running for office, their top priority once elected is to build a coalition that will keep them in power, and accumulating money and influence, regardless of whether the interests of that coalition coincide with the public’s.

One of the reasons that America enjoyed such tremendous growth over the past century was that technology outran regulators’ ability to keep up. Will that remain true over the coming decades? Let’s hope so. We can’t make it in the 21st century with a 1950s economic model, however appealing that approach might be to politicians.

Read more here.