Big Lies, Big Economic Problems and Polticians

The big title reflects a recent artcile by one of America’s the big economists, Thomas Sowell. In his commentary, Sowell delinates the problems engendered by the continual lies offered by officials seeking election to those who want to believe them. According to Sowell, “[w]hen the people want the impossible, only liars can satisfy them, and only in the short run.”

Sowells offers a number of examples to prove his point. They include the problems of social security, medicare, printing money, and taxing the rich, which he claims has never worked. It never works because the rich invest their money in ways the Obamite-type politicians cannot touch.

Is my opinion that Sowell’s best argument is about welfare.

“Among the biggest lies of the welfare states on both sides of the Atlantic is the notion that the government can supply the people with things they want but cannot afford. Since the government gets its resources from the people, if the people as a whole cannot afford something, neither can the government.”

To me, this sums up all the other examples presented by Sowell. But, don’t take my word on it, read Sowell’s article yourself. You may find it was worth reading.

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