Today on Uncommon Knowledge, Thomas Sowell, author of The Housing Boom and Bust. What did he make of the government’s decision to bail out certain financial institutions while letting others — notably, of course, Lehman Brothers — go down?

If left in the hands of the government, the ability to pick winners and losers…is a very dangerous power, not only in terms of the economic decisions that can be made, but also in terms of people being able to throw their weight around in ways that the Constitution never authorized them to do.

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