Paul Krugram is a Fool

Thomas G. Brown |

In reading Paul Krugman’s article from yesterdays the New York Times titled “A Tale of Two Moralities”
got me irritated with his simplistic look at the Economy we have now in the United States post-New Deal. In the paragraphs below he states that those who work hard and succeed should just shut up and give their money to government so they can redistribute the wealth. He also goes on to say that regulations are a needed to keep us from the evil capitalism we had prior to FDR.

“What are the differences I’m talking about?

One side of American politics considers the modern welfare state — a private-enterprise economy, but one in which society’s winners are taxed to pay for a social safety net — morally superior to the capitalism red in tooth and claw we had before the New Deal. It’s only right, this side believes, for the affluent to help the less fortunate.

The other side believes that people have a right to keep what they earn, and that taxing them to support others, no matter how needy, amounts to theft. That’s what lies behind the modern right’s fondness for violent rhetoric: many activists on the right really do see taxes and regulation as tyrannical impositions on their liberty. ”
I never understood this viewpoint posed by folks of the progressive persuasion. Their plan for a Utopian America is to create bureaucratic mazes for anyone who wants to open a business, buy a house, a car, have a baby, get married, travel by air. The list goes on and on. All this intrusion into are lives is to make us safer. These noble ones also believe that if you succeed in you business venture and make a profit they are entitled to a piece of it cause you know you couldn’t have done it without them. You will just be greedy and keep all your profits for yourself and not help a sole.

Well, they often forget or don’t care enough to look at the the jobs your business has created. In addition you will need supplies for the venture so you will have to buy from a vendor who will in turn hire employees. Your employees will be paid a salary in which they will buy goods and services. But our buddy Paul doesn’t want to hear any of that b.s. They want you to believe it’s an unfair an cruel world and the odds against the masses to succeed on their own and you need government to make everything better.

Well government has never made anything better. It has time after time proven to be a huge failure in every venture it understood. Let’s look at the oil crisis of the 1970’s. The OPEC nations refused to ship us oil and we had a shortage in gasoline. So what was government’s reaction. We must ration our use of gasoline. Certain people got to fill their cars with a prescribed amount on certain days. Their where lines around the block and it basically made life miserable (from what I heard). Well this on the surface sounds like a plausible solution but is there a better way to go about solving this problem. Hmmmmmmmmmmmmm I wonder, oh yea the free market. If you wanted fuel then you would pay what was the price the gas station owner deemed a reasonable rate. That is when is the money you are offering more valuable to him then the fuel you want for your car. This would enact a self rationing on an individual basis. The market i.e. the folks who owned cars and need fuel would make their own decisions about when to buy gas and when not based on amount of money they had and the price at the time.

This simple example show that we can get along quite well without government by running a true free market and not this top down planned economy we have in most areas of industry and business.

Paul, you might be wise to actually think out what you say from now on before you sound like the Keynesian fool you are!


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