lookingforlissa

Escape your life for a little while — come play in mine.

So easy, even a Poli-Sci Major can understand it!

Posted by Lissa on October 23, 2008

By way of Bookworm:

Other nations have tried the ideology of fairness in the place of incentives and found that reward without work is a recipe for decline. In the late 1970s and throughout the 1980s, Margaret Thatcher took on the unions and slashed taxes to restore growth and jobs in Great Britain. In Germany a few years ago, Social Democrat Gerhard Schroeder defied his party’s dogma and loosened labor’s grip on the economy to end stagnation. And more recently in France, Nicolas Sarkozy was swept to power on a platform of restoring flexibility to the economy.

The sequence is always the same. High-tax, big-spending policies force the economy to lose momentum. Then growth in government spending outstrips revenues. Fiscal and trade deficits soar. Public debt, excessive taxation and unemployment follow. The central bank tries to solve the problem by printing money. International competitiveness is lost and the currency depreciates. The system stagnates. And then a frightened electorate returns conservatives to power.

RTWT.

UPDATE: IAMB linked.  Thanks!

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One Response to “So easy, even a Poli-Sci Major can understand it!”

  1. […] reminded me of this distinction between Obama and McCain was reading a LookingForLissa simple summary . Lissa caught the message “Even I could figure this one out” from the Bookworm Room, […]

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