Friday, June 25, 2010

This economic stuff really isn’t hard.

This economic stuff really isn’t hard.

“Taxing moves money and spending moves resources.”
In other words, why on God’s green earth would anyone with a pulse believe taking money (taxes) from the most productive side of the economy (private sector), which uses resources efficiently thanks to the invisible hand of the market, and give it to the most unproductive side of the economy (government) who continually wastes finite resources (spending), thanks to the visible boot of the market?
Three answers:
1) Brainwashed by the Temples of Keynesian Hell, often referred to as Ivy League economics departments
2) Hubris, and a deep-seated belief in one’s ability to structure the lives of others
3) Pay off political cronies and “interest” groups

I had the privilege of listening to the Nobel Prize winning economist Milton Friedman in a lecture series during my MBA Economics classes say much the same thing.

This opinion is courtesy of Jack Crooks at Black Swan Capital and the link to the full discussion is above. An interesting argument.. read it, it dosnt take long.

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