William Shughart: Economics Merging With Politics

Economics Professor William Shughart of University of Mississippi also serves as editor-in-chief of Public Choice, a journal that studies the intersection between economics and political science. It's a busy intersection these days, with government spending huge sums of money to rescue failing companies and take unprecedented ownership stakes in the auto industry, among other things. Professor Shughart explains why taxpayers should view these moves -- and recent news about the General Motors stock offering and Troubled Asset Relief Program costs -- with skepticism.