Groped by the Invisible Hand

Repeat after me: The Market allocates resources best. The Market knows all.

It was just a single contract for a single job on a single base in Iraq. The Department of Defense agreed to pay the megacontractor KBR $5 million a year to repair tactical vehicles, from Humvees to big rigs, at Joint Base Balad, a large airfield and supply center north of Baghdad. Yet according to a new Pentagon report [PDF], what the military got was as many as 144 civilian mechanics, each doing as little as 43 minutes of work a month, with virtually no oversight.

KBR Bills $5 Million For Mechanics Who Work 43 Minutes a Month | Mother Jones.

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