Source: Ludwig von Mises Institute
by William L Anderson
“As any follower of Austrian economics knows, lawmakers—in any form—are usually the enemies of free markets and the prosperity that they bring. However, there are times when legislators manage to outdo themselves and pass laws that are absolutely destructive, and the Jones Act is one of them. A number of people have explained that, with most government programs, ‘the benefits are concentrated and the costs are diffused,’ and probably no legislation better reflects that truism than the Jones Act, which benefits a small number of people but lays costs upon the vast number of Americans that must pay for this legislation.” (10/08/26)