602 > 506
7 > 3
My point is not to one up your numbers but that no one has a definitive answer. Its just political now.
"Keynesian 'demand stimulus' is the logical equivalent of claiming that you can make a bath warmer and /or deeper by moving bathwater from one end to the other."
Put more formally, Keynesian theory requires that the productivity of government 'investment' exceeds the productivity of private investment. That is hard to square with the fact that politicians and senior bureaucrats bear almost zero risk (that is to say, they are generally not held accountable if their 'investment' fails to produce a ssatisfactory RoI).
inb4 nonsense like "externality amelioration" or such falderol.
My response to 'externality' pedlars: first, congrats on subscribing holus-bolus to utilitarianism (which most of them claim is indefensible).
Second, add up all your silly (theoretically-preposterous) Harberger triangles from every allegedly welfare-enhancing .gov intervention, and then... subtract all the person-LIFETIMES of labour lost due to war plus the Harberger triangles lost due to the distortion of goods and factor markets caused by policy.
Keynesians who want to discuss second moments (volatility of output) can have that conversation too... but I will wipe the floor with any ".gov ameliorates uncertainty" argument.
Even using a 'crude' utilitarian calculus, the case against government (and ergo against the spurious 'theory' of the Wandering Pederast, Keynes) is absolutely conclusive.
Everyone knows the acronym "TANSTAAFL", but very few people use the better, more elegant acronym that is known to readers of Bastiat... TWINS.
That Which Is Not Seen (.gov waste, distortion of factor and goods markets, and so forth) more than offsets any putative good that .gov can achieve ... assuming arguendo that a collection of parasitic megalomaniacal sociopaths actually aims to achieve any social good, which is doubtful.
Serious consequentialist utilitarians (of which I am one) need only lift their eyes past the short term to see that the consequences of having a State are negative for the majority of the citizenry, and positive only for the highest-functioning sociopaths.
On March 16, that vote will offer the residents of Crimea two possible futures: either split off from Ukraine and become an independent state, or ask Russia to annex Crimea. Remaining a part of Ukraine is not an option on the ballot.
- Claritas Genomics
- Massachusetts Institute of TechnologyBS Nuclear Engineering, 1977 - 1981
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