Dr Eric Crampton: Restoring fiscal discipline - and trust

American libertarian author and satirist P.J. O’Rourke used to joke that “Giving money and power to government is like giving whiskey and car keys to teenage boys.”

The problem really is one of trust. At least when O’Rourke was writing, the average American teenaged boy couldn’t be trusted with whiskey and car keys. But there would always be some teenagers who could be trusted if left home alone for the weekend with an unlocked liquor cabinet and with a car in the garage. Trust can be earned.