"Imagine a horse race between Smith, Schumpeter, and Stupidity," begins economist Peter Boettke. Who wins?

The horse "Smith" is Adam Smith. He represents the gains from trade and division of labour about which Adam Smith spoke so well.

"Schumpeter" is the horse representing gains from invention, from new technology, from all the gains that innovation brings.

Together they drive the race forwards.

But "Stupidity" is the horse sponsored by the government, and trained by big-government worshipping economists. He bumps into the others, bites at their heels, and generally gets in their fucking way. 'Stupidity' represents every stupid idea, every stupid regulation—and all that insane tinkering with counterfeit credit as if it were the way to economic nirvana. 

He takes it all backwards.

We can see Leg One of that race below: Mark Perry's famous “Chart of the Century,” tracking the price of 14 items over the last quarter-century. 

It's pretty clear that when 'Smith' and 'Schumpeter' can run largely unhindered, then nearly everyone gets better off. Even if the change in average hourly wages is taken into account, all but five of the items tracked above give those two horses (and every wage-earner) a win.

It's only when 'Stupidity' is allowed a free rein that he starts to come out ahead. (And I'm fairly sure that an analysis using NZ data would show something very similar.)

Let's hope the lesson is clear?

Which is the greater threat—illegal aliens or ICE agents?

Crime is a problem. Crime by foreigners in the U.S. is a part of that problem. Crime by foreigners illegally in the U.S. is a part of that part.

Criminals, whether illegals or citizens, have guns and confederates. ICE agents have assault weapons, SWAT gear, and an organization of tens of thousands.

Criminals are condemned by everyone. They are outlaws, operating in the shadows. ICE agents have a moral sanction. ICE was set up by the U.S. Congress. It is funded by Congress. Half the country think ICE agents are doing God’s work. Or they did until the recent killings.

When an illegal alien shoots and kills someone, he is hunted down, arrested, tried, and given capital punishment if found guilty. He can claim he acted in self-defense, but he must prove it in court.

When ICE agent Jonathan Ross shot Renee Good three times in the face, killing her, and the whole world sees it on video, he is left at liberty. The claim of self-defense seems to require no proof in court.

Remember, we have the police to protect us from criminals. The police go after criminals without regard to their citizenship status or immigration status. And the police are part of an objective legal system, with constitutional safeguards against the abuse of power.

But ICE agents “just know” who is a criminal. Or who is a potential criminal. Or who has not proved he won’t become a criminal. ICE and its parent agency, Homeland Security, are the judge and jury.

Which, then, is the greater threat to public safety: the crimes of illegal aliens or the unaccountable paramilitary troops created to deport them?

I have my answer. What is yours?

Listen to Scott Holleran review the new Amazon MGM Studios movie, Melania:

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