Wednesday, October 22, 2014
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

Lost & Found


VideoFound Puppy - long haired dachshund found on Old Corpus Christi Rd several weeks ago. I have posted his picture everywhere, to no avail. Please help! 210-355-1594 call or text!
Found: Calico cat, female, white, orange, and black, on CR 352, La Vernia. 210-667-1052.
Lost: Small black female dog, no collar, her name is Shortcake, has long hair, Sutherland Springs area. Call 830-391-5099.
More Lost & Found ads ›

Help Wanted

The Wilson County Appraisal District is accepting applications and/or resumes for an entry level Field Appraiser position. Responsibilities include office and field work associated with the appraisal of all types of properties. Applicants must be willing to complete the requirements to obtain an RPA designation through the Texas Department of Licensing and Regulation. Interested applicants must have reliable transportation, a valid Texas driver's license, and proof of liability insurance. Send resumes and/or applications to: Wilson County Appraisal District, Attn: Field Appraiser Position, 1611 Railroad Street, Floresville, Texas 78114.
Your #1 Advertising Resource! Call 830-216-4519.
More Help Wanted ads ›

Featured Videos





Video Vault ›

Commentaries


Government Shows Itself Impotent on Economy




E-Mail this Story to a Friend
Print this Story

Disclaimer:
The author of this entry is responsible for this content, which is not edited by the Wilson County News or wilsoncountynews.com.
July 11, 2012 | 1247 views | 2 comments

By Sheldon Richman

It should finally have dawned on the American people that the politicians who presume to guide the economy have no bloody idea what they’re doing. We’re long past the time when knowledge of economics was required to see that the government is impotent when it comes to creating economic recovery. If you want evidence of that impotence, just look around.

Governments are very good at creating recessions and at impeding recovery. That is the limit of their powers. If you expect something constructive, you’ll be disappointed. Politicians from President Obama on down will promise the moon, but they will deliver only worthless rocks. They will blame everything and everyone for their failures, but their inability to succeed has one source only: the political process -- which is founded on force, not peaceful economic cooperation -- is singularly inappropriate for creating prosperity.

Between them, Obama and former president George W. Bush directed over a trillion dollars in spending increases and tax cuts toward stimulating the economy. What’s to show for it? A persistent and understated 8.2 percent unemployment rate. If you count the part-time workers who’d rather be full-time, the rate is 14.8 percent. Even that statistic hides a woefully depressed labor-participation rate: under 64 percent. You have to go back to 1981 to find such a low rate. The irony is that people who drop out of the work force in frustration aren’t counted among the unemployed.

The politicians’ approach is flawed at its most basic level. Almost without exception, they promise to “get the economy moving,” as though it were a stalled vehicle. Popular metaphors aside, the economy is not machinery subject to stimulus. It is motivated people engaging in continuous exchanges for mutual benefit.

People make exchanges and investment decisions -- or refrain from doing so -- on the basis, not only of their values and preferences, but also of their expectations about an inherently uncertain future. These expectations can be clouded or changed by additional uncertainty about what an erratic government will do next, which economic historian Robert Higgs calls “regime uncertainty.” People are less likely to make bold, long-term business decisions, the kind that create jobs and new and better products, if a new tax or regulation -- perhaps unveiled next week, next month, or next year -- could wipe out a plan’s potential to turn a profit. The world is uncertain enough without having to worry about what harebrained scheme inherently ignorant politicians will think up next.

With regulations on employer-based health insurance, finance, and other matters still to be written, with the Federal Reserve run on the basis of whim, an entrepreneur would be taking a huge risk in undertaking any long-term project. Moreover, with a $15 trillion national debt looming, who knows what tax plan Congress and the president might cook up?

That’s enough to account for the lackluster recovery, if it deserves to be called even that. Yet most pundits, having absorbed vulgar Keynesian economics from teachers and cable-television “authorities,” believe the flaw is in the market process, not the political process -- hence their view that if the government would just spend enough borrowed money, all would be well. Spend it how? This is where the incantation “infrastructure” comes in. Repair the roads, bridges, and schools, and unemployment will disappear. Hire the idle construction workers, pay them to do this work, then watch them spend that money and put other people to work. It’s so simple. Government must think big!

It may seem plausible, but it’s wrong. Every penny the government borrows or taxes must first be removed from private purposes. Government is a parasitic organization with no resources of its own, no power of its own to produce. So where’s the gain?

The Keynesians respond that people in the private sector aren’t spending. But that has already been explained: regime uncertainty. And it’s not true that people aren’t spending on consumption. What is lacking is investment. But what investment requires, besides confidence, is savings -- which government and the Fed discourage through artificially low interest rates.
We must stop looking to politicians for recovery. The path to prosperity is government retrenchment: the elimination of taxes, regulations, government spending, corporate privileges, and all other barriers to social cooperation.

Sheldon Richman is senior fellow at The Future of Freedom Foundation (www.fff.org) and editor of The Freeman magazine.
 
« Previous Blog Entry (July 11, 2012)
 


Your Opinions and Comments
 
matilde serna  
floresville  
July 17, 2012 8:42pm
 
 
Giverment is impotent
 
 
Elaine K.  
Floresville  
July 11, 2012 2:23pm
 
 
New post.
 

Share your comment or opinion on this story!


You must be logged in to post comments:



Other Commentaries



Commentaries
Commentaries page govtrack.us
Commentaries who represents me?

Drama KidsWilson's Auto ChooserAllstate & McBride RealtyHeavenly Touch homeVoncille Bielefeld homeBlue Moon Karaoke & DJChester WilsonSacred Heart SchoolTriple R DC Experts
  Copyright © 2007-2014 Wilson County News. All rights reserved. Web development by Drewa Designs.