Money & Politics
Last week's Supreme Court ruling striking down the ban on corporate and union spending at election time is both a blessing and a curse. On the one hand, removing a legal barrier to free speech is always a good thing in itself. Government shouldn't dictate who can speak or from where people may get their information. This is more than a matter of abstract freedom; it's also a practical matter. More contentiousness in politics is better than less. Free-wheeling debate is more likely to produce good outcomes than a controlled flow of information. But there is a downside to the ruling that we should freely acknowledge. If history and recent times are any indication, big corporations and unions will use their new freedom of political speech to promote bad ideas. By "bad ideas" I mean proposals for more government interference with our lives and liberty. (Not that the spending ban kept them from doing that in other ways.) It's a great myth that businesses, especiall...