KING COUNTY (WA): Seattle Metropolitan and Surrounding Areas

 
 
 

With Economists Like These...

Posted by: John Barnes | 10/15/2008 12:47 PM

A running joke about academia is that PhD really stands for "piled higher and deeper."  With that in mind, it's worth noting that Senate Majority Leader Lisa Brown has a PhD in economics.  All kidding aside, you certainly wouldn't guess those credentials based on what she told staff at Crosscut when she visited their office this week.  From Crosscut's blog:


Despite the massive revenue shortfall and tough economic times, Brown says now might be a good time to spend money on job-creating infrastructure improvements, including transportation....


Next year's legislative agenda will be dominated by the state's projected $3.2 billion revenue shortage, but Brown says infrastructure will be a priority. "It's a good time" to address the poor economy by "doing more on infrastructure ... in a job-oriented way,"... [emphasis mine]


I always laugh when I hear the fallacy that government "creates jobs," and the laughter gives way to tears when I see it in print.


Make no mistake:  the only way government can create a job is by first taking money away from someone else (i.e., taxpayers).  I've said it before and I'll say it again---it's akin to me burning my neighbor's house down in the name of keeping local construction workers employed.  In economic jargon it's referred to as the broken window fallacy.  Another way to look at it is vis-a-vis what economist Henry Hazlitt referred to as the "seen vs the unseen" consequences of economic policy.  If government takes money from me to "create" a job, that is the "seen" effect, but "unseen" is the fact that I then have less money to spend in the economy purchasing goods and services, which means other sectors of the economy will suffer.  All of this is economics 101, a topic someone with a PhD should understand. 


And by the way, we're talking about an elected official who's suing to make it easier for the state to raise taxes, just in case you're wondering how she plans to pay for all the jobs the state will "create."

Select a Red County Blog

MEET THE LOCAL EDITOR
 
 

Recent Comments

11/15/2008 5:16 PM

Z commented about: Pictures of Fraudulent Democratic Election Letter

It may be ill advised, but it is apparently not "fraudulent" and certainly not election fraud. Forbes has...
 

11/12/2008 8:35 PM

Michael Reitz commented about: Attention bloggers, please file your lobbyist forms...

Lew, thanks for the comments. I think it's pretty easy for most folks to distinguish between paid lobbyists...
 

11/12/2008 7:28 PM

Doug commented about: Self Evident Truth: A Nation Divided

'A house divided cannot stand' if cultural opponents do not honor Law and Order. The First Amendment guarantees...
 

11/12/2008 4:28 PM

Lew McMurran commented about: Attention bloggers, please file your lobbyist forms...

Michael, thanks for posting this. As a registered lobbyist who also blogs I submitted comments that capture your...
 

11/12/2008 1:37 PM

April E. Coggins commented about: Are bloggers lobbyists?

Michael, what is the criteria for "news media?" How does one qualify as news media?...
 

11/12/2008 1:10 PM

Michael Reitz commented about: Are bloggers lobbyists?

Dana & April, the PDC has definitions for who qualifies as lobbyist. Two exceptions are citizens who are...
 

11/12/2008 1:06 PM

April E. Coggins commented about: Are bloggers lobbyists?

Dana, I'm not sure the definition of a lobbyist can be that straight forward. For example, can a...
 

11/12/2008 10:24 AM

John commented about: Are bloggers lobbyists?

Bloggers are considered lobbyists in Washington only if they are advocating for market-oriented or limited-government policies, especially policies...
 

11/11/2008 8:53 PM

Dana Callen commented about: Are bloggers lobbyists?

I do not think that citizens expressing their opinions should be considered to be lobbyists. If, however, a...
 

11/10/2008 8:10 PM

Doug commented about: No More Pity Party

Most people vote on the basis of economic self-interest, and McCain failed to win the confidence of voters...
 

11/09/2008 5:39 PM

Dave commented about: No More Pity Party

Dick Armey is wrong. He states that "Republicans lost control of Congress in 2006 because voters no longer...
 

11/08/2008 4:51 PM

maureen commented about: No More Pity Party

Angie Vogt is a tremendous writer and has served us up political meat and potatoes. It is clarity...
 

11/07/2008 12:47 AM

ARMY WIFE commented about: Barack Obama is My President

Perhaps he can now answer all the questions he had previously said were "not in his paygrade"...
 

11/06/2008 11:27 PM

J. Goldberg commented about: Highline School District Teachers Wearing Pro-Obama Paraphernalia

As a retired attorney who spend 31 years in the legal profession (8 years as a prosecuting attorney...
 

11/06/2008 11:08 PM

Melanie commented about: Barack Obama is My President

I really enjoyed your commentary. It's sad to say, but so many people (from both sides of the...
 

11/06/2008 9:19 PM

Anonymous commented about: Highline School District Teachers Wearing Pro-Obama Paraphernalia

No one has mentioned whether the specifics of RCW 29A 84.510 were actually violated. If the teacher stayed...
 

11/06/2008 4:10 PM

ANC commented about: Barack Obama is My President

Bob, Here read this from a CNN study: "Florida Supreme Court recount ruling On December 12, 2000, the...
 

11/06/2008 3:57 PM

RightThinkingWoman commented about: Barack Obama is My President

David H: You sound like one of the angry old geezers that give conservatives a bad name. Liberals...
 

11/06/2008 12:17 PM

Michael Kerr commented about: Barack Obama is My President

Angie, Outstanding! You illustrate a point in your message which reflects one of the great attributes of many...
 

11/06/2008 12:17 PM

Bob commented about: Barack Obama is My President

Tommy, While I generally like your comment I must take issue with one point. You said: "Unlike liberals...
 

What We're Talking About