Posted by Richard Rider at 5:11 pm on Jul 24, 2011 Comments Off on Government pensions help economy — like the Bloods and the Crips
Recently there have been a spate of “studies,” press releases
and articles from government apologists (especially CalPERS) about
how we all prosper from (primarily government) pension fund
investing and pensioners’ spending. Here’s my response:
—
Actually, if the Crips and the Bloods had good PR departments,
they could put out similar and equally accurate “analysis” and
press releases:
The titles could read something like this:
“Crips’ Thefts Stimulate Economy.”
“Bloods’ Blood Money Energizes Commerce”
A thief who steals someone else’s money and spends (or, indeed,
invests) the funds is doing just as much for the economy as the
taxes confiscated (under threat of force) for the benefit of our
public employee aristocracy.
It’s just another example of the “Broken Window Fallacy,” the
ludicrous but too common premise that breaking windows increases
prosperity.
http://en.wikipedia.org/wiki/Broken_window_fallacy
In this case, the assumption is that if I take… Read More