President Barack Obama Message Board

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Politics : President Barack Obama

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To: RetiredNow who wrote (136429)	8/28/2013 9:32:52 PM
From: koan	Read Replies (1) of 149317

It might be because we have the most money. How come the Scandinavian countries do so well with sky high taxes and huge welfare states? How come we did so well in the 50's with sky high taxes and an increasing welfare state? We had much more equality in the 50's and 60's than we do now that our taxes are at 80 year lows and unions have been gutted! You make connections as though you KNOW they are connected. You assume they are connected, but dig into the science a bit and you will find many of your ideas are not connected. They have a term for the above fallacy in economics: "post hoc ergo propter hoc" - that is, therefore because of this.. <<Marxism failed in the Soviet Union and in Cuba and it has failed everywhere it has been tried. When people are not rewarded for their ideas and hard work, then there is no incentive for them to rise above the average. This is human nature 101. In regulated, free markets, the incentives to rise above are huge. So you have the right incentives, combined with the optimal allocation of scarce resources to the best ideas through supply and demand from millions of market participants. That is what makes for optimal economic growth.

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