Monday, September 07, 2009
Thought for the Day
All of economics is devoted to the proposition that there is no such thing as a free lunch. All of politics is devoted to the opposite conviction. All economics teaches that you can’t get something for nothing. All politics supposes that you can -- or that you can at least persuade other people that you can. Economics is about scarcity, universal and inescapable. Politics is about limitless plenty.
Consider that 98% of all bad policy amounts to nothing more than ignoring opportunity costs: the simple axiom that the cost of something is measured not just by the actual sum of money used to produce it, but what the same funds might have purchased, diverted to another end -- the profits forgone, the jobs not created, because that money was spent in one way and not another.
-- Andrew Coyne, October 9, 2007
# posted by Matt @ 12:01 pm 
Comments:
When Cosh was here last spring Ty, Winters and I went out to see him and Mr. Coyne was in attendance. A very fun and funny guy. Also a fan of the Winnipeg Jets, poor bastard.
What one man receives without earning, another man must earn without receiving.
Of course, you can't get elected without promising plenty of thought #1 while trashing as "cold-hearted" those who mention thought #2.
Hey, I've made a list of Oilers blogs on my site. If I've missed any let me know! Thnx.
Greg
The Oilogosphere
Doesn't seem an especially bright, insightful, well-considered statement to me. Consider: sweeping generalizations and incorrect categorical statements remain the complete and sole purview of "journalists" and pundits.
;O)
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When Cosh was here last spring Ty, Winters and I went out to see him and Mr. Coyne was in attendance. A very fun and funny guy. Also a fan of the Winnipeg Jets, poor bastard.
What one man receives without earning, another man must earn without receiving.
Of course, you can't get elected without promising plenty of thought #1 while trashing as "cold-hearted" those who mention thought #2.
Hey, I've made a list of Oilers blogs on my site. If I've missed any let me know! Thnx.
Greg
The Oilogosphere
Doesn't seem an especially bright, insightful, well-considered statement to me. Consider: sweeping generalizations and incorrect categorical statements remain the complete and sole purview of "journalists" and pundits.
;O)
Post a Comment
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