Yes, in more ways than you might think. In a hot microphone moment the other day, President Obama told someone at the UN that he had not smoked for six years, which we know ( from Michelle Obama for example) is false. The Daily Caller story below recounts the story. We have often discussed how lying is such a prominent feature of a crony capitalist society, something that spreads and spreads until no one can count on anybody telling the truth. This is terribly important for an economy too, because a market system is based on trust.
Read more about Did President Obama’s Lie at the UN Matter?
Read more about Did President Obama’s Lie at the UN Matter?
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