"A wise and frugal government which shall restrain men
from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government."
(Thomas Jefferson)

Monday, June 11, 2012

Are the Elites Out to Repeat LBJ and Nixon Years?

Looks like elites want to take us back to the failed days of LBJ policy and Nixon secrecy which makes my head swim and ask the question "WHY?"  Do elites never admit they made a mistake?  They are always right no matter if something fails -- it is all of us who just don't understand them and their way of governing.  (sarcasm)

Do they want gimmicks like Romney did in MA as Governor and Huckabee in AR -- raise fees and then brag about they didn't raise taxes.  That is short term fix not a long term one.  Cutting tax loopholes should be in play not cutting taxes across the board until the economy is in better shape.  Laying off federal employees like Romney wants to do when he takes office will send this Country into more of a tailspin but then as he said before he "likes to fire people" and smiles.

When are going to get candidates with new ideas who understand the vast majority of the American people and what we go through on a daily basis?  This election is about two out of touch candidates although no one can be more out of touch then Romney.
Quotation of the Day…
by Don Boudreaux on June 11, 2012 
… is from page 161 of Robert Higgs’s 2012 book Delusions of Power (original emphasis; link added); here, Bob is writing about policy-making in the U.S. during the reign of LBJ:
Had economic theorists rested content with using the microeconomics of the Neoclassical Synthesis strictly as a conceptual device employed in abstract reasoning, it might have done little damage. However, as I have already suggested, this type of theory cried out for application, which in practice was nearly always misapplication. The idealized conditions required for theoretical general-equilibrium efficiency could not possibly obtain in the real world, yet the economists readily endorsed government measures aimed at coercively pounding the real world into conformity with these impossible theoretical conditions. Closely examined, such efforts represented a form of madness.
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Source:  Cafe Hayek

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