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Bernard M -- Taipei English Tutor

Bernard M - English Conversation / TOEFL / IELTS 一對一英文會話

Tuesday, April 22, 2008

Governments Thrive on Low Expectations by Christopher Westley FROM Mises.com

My own Law of Political Economy is in order. For it to catch on as a generally accepted truth, both in the economics profession and in the culture at large, it must, like Say's and Gresham's Laws, be simple, obvious to everyone, and (as-of-yet) unstated.

Thankfully, I have devised such a law that meets these requirements. Westley's Law states that government grows on low expectations. That's my ticket to notoriety: an emperor-has-no-clothes statement that everyone knows is true but, in the age of the Leviathan state, no one wants to hear. It means that consumers apply much lower standards to government output, no matter what it is, than they do to the output that results from private markets. As a result, life is more costly, dangerous, and short.

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