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Reason
Reason
Veronique de Rugy

The Government Wants To Cap Credit Card Late Fees. It Will Hurt the Poor.

Any parent will tell you that forcing children to eat their spinach is no way to win a household popularity contest. Children don't care about the long-term benefits of eating healthy food when the alternative is the short-term thrill of sugary treats. Much to their children's chagrin, parents impose rules, like limiting the quantity of treats and making their receipt contingent upon finishing a healthy meal. Good behavior must be encouraged with appropriate incentives.

Fortunately for parents, their authority does not derive from the consent of the governed. But imagine for a moment if it did. Children could appeal unpopular parental decisions to some higher authority that needs their strong support. Not only would it be hard to maintain the "no treats before dinner" rule, but there could also be a complete banishment of spinach—maybe even all veggies. Kids would cheer the results, but their future adult selves will come to regret it.

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