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The Self-Preservation of Government Regulators

garynorth.com / Gary North / July 17, 2017

Michael Lewis wrote Liar’s PokerThe Big ShortMoneyballThe Blind Side, and The Undoing Project, which may be the worst title for a great book in recent history. It is about Amos Tversky and David Kahneman, Israeli psychologists, who together created a new field of economics, behavioral economics.

Lewis has a gift for words. If I could be as good as any non-fiction author, I would choose Lewis as my model, even without his movie royalties.

In The Blind Side, he describes a lady from the NCAA’s department of improper boosterism. It looks for money or other favors that are given to college athletes.

The NCAA was best described 20 years ago by free market economist Ben Rogge [ROWEguee]. He said the NCAA is a cartel of officially non-profit enterprises that collude to keep down the price of college athletes.

Higher education in the United States is a government-created cartel. It is based on government licensing of what constitutes higher education. It is also based on a self-policing system of academic accreditation. The NCAA is simply an extension of the larger cartel.

In the book and in the movie, we see a grilling of All-American high school football star Michael Oher by an NCAA investigator. She comes to investigate whether the Tuohy family improperly provided Oher with gifts to get him to attend the University of Mississippi, their alma mater. Since the Tuohys were multimillionaire whites who had adopted the homeless black giant of a teenager, there was at least plausible suspicion that something fishy was going on.

Lewis offers this assessment of the NCAA’s investigatory department. He begins by describing the views of Sean Tuohy, the man who adopted Oher.

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