Failing Up

On the future of nuclear energy, Glenn Reynolds writes, “I see this as a case where the Obama Adminstration’s predilection for crony capitalism might actually work in the public interest.”

True enough.

But the problem with crony capitalism isn’t that it doesn’t sometimes — or even frequently — get things right. The problem is that its mistakes are politically entrenched and aren’t easily undone. And its mistakes tend to be whoppers.