Tuesday, September 26, 2006

Revealed Preferences

Tim Worstall has a great article in today's Times.

Just as you should judge policies on their results rather than on their intent, you should look at what people do rather than what they say they do (or say you should do).

He makes the observation that, even though lots of people say taxes should be higher, only five people last year - out of all the taxpayers in the country - voluntarily paid more than they were asked to - and three of them were dead!

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