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Tim Carney: Don’t go chasing subsidies

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Because I follow corporate welfare, regulatory robbery, lobbying, and subsidies, folks often joke that I should start a hedge fund that invests in whoever is about to benefit from government action. I know some investors and investment advisors already do something like that, but I wouldn’t. Morally, it’s depraved, but strategically it strikes me as unwise. Historically, I’ve seen it not work....

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