Unintended consequences

Unintended consequences

Cry Wolf Quotes

If our manufacturers leave, whether for North Carolina or China, and they take their greenhouse gases with them, we might not have solved the problem but exacerbated it instead.

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California Chamber of Commerce President Allan Zaremberg. Greenwire.

The important question, however, is not the default rates on the mortgages made under the CRA. Whatever those rates might be, they were not sufficient to cause a worldwide financial crisis. Once these standards were relaxed--particularly allowing loan-to-value ratios higher than the 80 percent that had previously been the norm--they spread rapidly to the prime market and to subprime markets where loans were made by lenders other than insured banks.

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Peter Wallison, AEI Online

These teenagers [that drop out of school to take the higher wage jobs] take jobs that would go to unskilled adults, making it harder for those adults to make the transition from welfare to work.

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N. Gregory Mankiw, The Boston Globe.
06/24/2001 | Full Details | Law(s): Living Wage

Effluent taxes are a license to pollute. If the tax is low or moderate there is little incentive to provide treatment prior to discharge. If the tax is too high some firms, because of size, marginal nature or age, may be forced to close. This can, and does, happen under existing water quality programs. But such shutdowns are directly related to water quality. Shutdowns due to effluent taxes which ignore water quality and produce no tangible benefits are economically and socially unacceptable.

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Edwin A. Locke, Jr., President, American Paper Institute, Testimony, Subcommittee on Air and Water Pollution of the Senate Committee on Public Works.
06/09/1970 | Full Details | Law(s): Clean Water Act