The End of Socialism-Light ?
If the popular TV show Mythbusters was about economics, I could easily envision the following scene at the end of the show:
Jamie: So, socialism, as a viable economic system, busted?
Adam: Oh, it’s busted.
Of course, if the show really was about economics, it wouldn’t be popular. Want proof? Barack Obama is on the verge of being elected President of the United States, and he unabashedly says something like: It’s not that I want to punish your success…..I think when you spread the wealth around it’s good for everybody. Check out the video here.
The reason this isn’t the end of his campaign? I guess it’s because the Republicans are only marginally better. I also have it on good authority (me) that people in high places in Washington DC policy organizations – conservative places – are completely on board with wealth re-distribution.
Hardly anyone cares (as far as I can tell) that a major party candidate has actually spoken the socialist credo: make money, it’s OK, we’ll just take it away from you and give it to others. No problem at all, the economy will be fine.
It is beyond difficult to be a pro free-market economist.
NM
