Show Notes
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#governmentsubsidies #politicalentrepreneurs #cronycapitalism #pickingwinners #greenenergysubsidies #UncleSamCan039tCount
Uncle Sam Cant Count: A History of Failed Government Investments, from Beaver Pelts to Green Energy is a nonfiction economic history by Burton W. Folsom Jr. and Anita Folsom. The book examines a recurring claim in American public policy: that government can successfully identify, fund, and manage private-sector winners. Through a series of historical examples ranging from early subsidies in the fur trade and railroads to modern energy policy, the authors argue that public investment often performs poorly because political incentives differ from market incentives. Their central purpose is not simply to criticize one administration or one program, but to present a long historical case that state-directed investment tends to distort decision-making, protect favored firms, and misallocate capital. The book is written as a conservative critique of interventionist economics, but it also functions as a broad survey of how entrepreneurial activity has often outperformed politically guided support.