Wow. Statists and collectivists we are in full-blown panic mode on several fronts. Since their shrillness and predictions of doom, having lost their effect, they have turned to alien invasion as their scare tactic of last resort. First we have an odd exchange on Fareed Zakaria‘s show where Paul Krugman actually suggests that an invasion from hostile ETs would have us out of our worldwide economic malaise in 18 months.Vodpod videos no longer available.
I don’t think Krugman believes there will be an actual alien invasion. I’m not so sure he wouldn’t be in favor of faking one however, if he thought he could get away with it. Elitists consistently believe the ends justify the means no matter how dishonest they are.
The real problem I have with this piece is the tacit acceptance of failed economic theory that Zakaria utters in the middle of the clip.
Wouldn’t John Maynard Keynes say that even if you employed people to dig a ditch and fill it up again, that’s fine. They’re being productively employed. They pay taxes.
I wouldn’t expect anyone on MSNBC to argue with this, especially Krugman-he is a Keynesian after all. But, someone has to point out, digging a ditch only to fill it back in CANNOT be considered “productive” employment. “Productive” employment would have to produce something. Digging a ditch only to fill it back in produces nothing more than a sore back.
Apparently Zakaria and Krugman have realized that the American people are tired of entitlements and welfare so they are now moving to a workfare platform. Rather than giving people money just because they exist, we will give them money to do something meaningless and everyone will feel better.
I would propose this is even worse than welfare. It saddens me that allegedly intelligent people, Krugman did win the Nobel prize for economics after all, don’t understand the real value of work beyond a paycheck. Meaningful work adds purpose to one’s life. Some intellectuals would say, “Many people do meaningless drudgery, the person that picks up your garbage for instance.” But ask that same elitist how important that garbage man’s job is when he hasn’t shown up for four weeks in a row and I have a feeling his opinion of the value of that work might be slightly different.
If a man spends his day digging a hole knowing he will just fill it tomorrow and that the hole served no purpose other than to give him something to do, how long will it be until the man resents the paycheck? How long until the man is a serf in spirit? The dirty reality of Keynesian economics is people have no value, their only purpose is to drive the Keynesian machine.
Zakaria says, “they pay taxes” as if the reason we work is to pay taxes. But, they’re paying taxes on money that came out of…taxes. There is an easy to see point of diminishing returns. As we get closer and closer to the collectivists dream of eliminating the private sector, from where will the tax dollars to pay the salary in the first place come? The only way for this system to work is to continue to print money. That money will be paid to people to dig holes adding absolutely no wealth or productivity. If I’m willing to trade you $40,000 a year to do work that is worthless, what is $40,000 worth?