By Dan Sanchez writes at Real Clear Markets ‘Free Everything’ and Thomas Sowell’s First Law of Politics.Excerpts in italics with my bolds.
The other night, a politician criticized Bernie Sanders and Elizabeth Warren for offering voters “free everything and impossible promises.” Remarkably, the critique came, not from a Republican fiscal conservative, but from a fellow Democrat during a primary debate. John Delaney, a former congressman from Maryland, said such policies were based on “fairy-tale economics.”
As economist Thomas Sowell wrote, “The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”
So it was surprising to see a presidential candidate give a nod to the first lesson of economics and lay off the first lesson of politics for a moment.
The word “free” slips freely…
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