More nearsighted than Mr. Magoo

Encouraged by midterm results, Senators Elizabeth Warren and Bernie Sanders, along with other progressives, have been floating more proposals for added restrictions on businesses, echoing Hillary Clinton’s 2016 “quarterly capitalism” attack on a supposedly irresponsible corporate focus on short-term results at the expense of long-term growth.
They all, of course, promise that government will fix the problem they imagine. But participants’ incentives undermine assertions t