Saturday, September 24, 2011

Economic Thought For The Day


Another favorite of mine, Frederic Bastia (taken from Wikipedia)had the right idea almost 200 years ago.

Bastiat asserted that the sole purpose of government is to defend and protect the right of an individual to life, liberty and property. From this definition, Bastiat concluded that the law cannot defend life, liberty and property if it promotes socialist policies, which are inherently opposed to these very things. In this way, he says, the law is perverted and turned against the thing it is supposed to defend.
In The Law, Bastiat explains that if the privileged classes use the government for "legalized plunder" this will encourage the lower classes to revolt or use socialist "legalized plunder" and that the correct response to both the socialists and the corporatists is to cease all "legalized plunder". Bastiat also explains why his position is that the law cannot defend life, liberty and property if it promotes socialist policies.
When used to obtain "legalized plunder" for any group, he says, the law is perverted and turned against the thing it is supposed to defend.

How the U.S. will ever pay back the money it owes, it seems impossible.  Trying to solve the ills of the world for its own benefit when all of that money, borrowed from other countries, banks and the social security I'll never see, could have been used for the good of its own people who they themselves will now pay back.  Despicable! 

Attention presidents, senators, and politicians, stick to what you do best not  to your own special interests.   Cut programs,  clean up the graft that exists in disabilty, medicare and medicaid, eliminate massive corruption.   Social programs only limit people and provide no incentive to do better on their own.   You have created a group of takers all of whom have jumped on the band wagon and joined the free-for-all.   Now your big spending habits charged to the public account are now affecting other countries, mine included.   Don't drag us down with you.

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