Thursday, November 29, 2012

Obamacare Meets Reality. Reality Wins.

 Another Adventure In Cargo Cult Economics

streiff (Diary)  | 

For years the Democrat party has derided the GOP’s view of economics. Our view, essentially, is that your money is yours, not the government’s, and the decisions you make on how to spend it will inevitably be more lucid than anything the government comes up with. The corollary to this is that income redistribution is nothing more or less than theft which characterizes garden variety covetousness as fairness. They call this “trickle down” economics.  The Democrats have their own operating principle: Cargo cult economics. It has many facets but the basis idea is that if the government creates something that is associated with a vibrant middle class then a vibrant middle class will spring from that program as inevitably as Athena sprang from the forehead of Zeus.  Though the term has been around for a while, I first encountered it while riding with a good friend through a dystopic steel town outside Pittsburgh where right in the middle of boarded up store fronts some governmental agency had plopped down an “arts center.” The idea being that somehow funding an arts center in a mostly deserted downtown would revive the downtown area because affluent downtowns all have arts centers.  To Read More…..

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