Bad, bad ideas
Posted on | February 20, 2004 |
We’ve already established, at some point, that I watch a lot of television. Lately, this has included a healthy dose of CSPAN. What else does one have to do around 1 am on a Monday? This time I couldn’t pull myself away from a meetup in Wisconsin. The meetup came on the eve of the Wisconsin primary and took place in a small coffee shop in Madison. Vanessa Kerry (yes, daughter of John) led the question and answer session.
How do I summarize?
Interesting? yes.
Frustrating? YES!! %&$@#*$!!
Somehow, at some point in my life, I mistakenly assumed that high level politicians would have a grasp of economics. Unfortunately, I am sadly mistaken. Exhibit B? John Kerry1. Apparently privileged access to the best economists in the world cannot guarantee a solid economic policy. A few sad points of Kerry’s plan to boost the US economy:
1. Choose those sectors which show the most promise for the future, and funnel federal money into those sectors.
Why? Because it has worked so well for Japan? I almost forgot they’ve been in a recession for over a decade. It’s proven that planned economies DO NOT WORK. The government simply cannot guide an economy as well as an economy can guide itself. Consumers guiding the economy through their purchases, the full supply and demand dynamics, and the ability of companies to quickly react to market data cannot be simulated by a federal government. I defy, yes DEFY, someone to show me otherwise.
2. In the spirit of a “living wage,” raise the minimum wage.
Yep, let’s just throw that whole fancy-schmancy supply/demand thingamajiggy out the window. Why do people assume that the minimum wage can be raised with out consequence? If minimum wages are raised, people will undoubtedly lose their jobs. And the worst part is that it affects those who are struggling the most. It comes down to more people employed at a lower wage or fewer people employed at a higher wage.
I call for a solid economic policy– a policy that understands that interference in the marketplace creates inefficiencies and has far-reaching (horrible) effects on the future. How about giving Milton Friedman a call? Or any economist from the Chicago School of Economics? At the very least, read some Hayek or Smith.
1Exhibit A is, of course, Bush.
Comments
2 Responses to “Bad, bad ideas”
February 24th, 2004 @ 9:07 am
well, at least you learn something new. as much as I hate the stupid reality shows, I find myself wasting hours in gawking at the tv for some obnaxious fiancee show. that’s dumb.
February 25th, 2004 @ 5:21 am
I feel your fustrations. Watching TV now and days is like trying to find out which idiot is going to send this country into more of a downward sprial.