Liberals embrace the misguided idea that subsidies and regulations can boost the economy, says Cato's Chris Edwards. He writes:

Most politicians are optimistic about the government's ability to intervene and solve problems. That's one reason why they run for office.

Perhaps our current political leaders are not funding escalators to nowhere-as they did on The Simpsons monorail episode-but today's uneconomic streetcars and high-speed rail schemes are not that much different.