Friday, January 20, 2006
Milton Friedman's take
While looking for a different quote, I may have found a better one anyway:
The historical reason we have a post office monopoly is because the Pony Express did such a good job of carrying the mail across the continent that, when the government introduced transcontinental service, it couldn't compete effectively and lost money.... I conjecture that if entry into the mail-carrying business were open to all, there would be a large number of firms entering it and this archaic industry would become revolutionized in short order.I agree. We would be much better off. Except I don't think we would see the immediate savings, since our taxes probably would not fall by the full amount of the subsidy to the USPS. What is that figure anyway?