aefenglommung (aefenglommung) wrote,
aefenglommung
aefenglommung

True dat.

Anna and I were talking about things, and this popped out of my mouth. I'm jotting it down here before I forget it.

The Left is fond of two economic ideas. Neither works. And they contradict each other.

The first idea is that some people make too much money. They say that so-and-so is getting "more than his share." This assumes that the supply of wealth in the society is static, fixed. It's a zero-sum game, in which whatever X has comes at the cost of denying Y something. But the supply of wealth is not fixed. More can be created, though not by government. Re-distribution, of course, creates nothing.

But the other big idea the Left promotes is that you can appropriate money you don't have and pay for it by either printing more, borrowing more, or simply charging it to the dust and letting the rain settle it; in other words, that you can (by mere fiat) expand the supply of wealth that their first nostrum assumes to be fixed. This is a contradiction which they either don't notice or carefully do not call attention to. And on its own merits, it's as big a failure as their first idea.
Subscribe

  • On what it means to be a Christian

    “Religion” as a system combining particular beliefs and practices is a category that had to be invented by Christians in the late Roman/early…

  • Carry me back to old Virginny

    For his 14th birthday trip, Daniel requested a camping tour of Virginia. Daniel was born in Virginia Beach, though he doesn’t remember his first two…

  • Meditation, Saturday Afternoon at Rocky Gap

    I sit with my feet in the warm sand while Daniel plays in the lake at Rocky Gap State Park. The weather is gorgeous. We have nowhere else we need to…

  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 0 comments