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Turning voodoo into rocket science

January 15, 2010
Klaus Rohrich

The idea that there are people who actually believe that governments create wealth and political leaders who claim that we can spend our way to prosperity using borrowed money has always fascinated me. After all, there is plenty of empirical evidence going back to the founding of the nation that gainsays these conceits.

Yet every so often a perfect storm of voter credulity, hatred for the incumbent and misguided idealism combines to create governments like the one currently running the nation. That’s how America wound up electing a cabal of socialist politicians bent on “fundamentally changing the face of America,” whether Americans want it changed or not. And of course, today all political change involves economics, which brings me to the realization that what passes for economics in Washington these days is a lot closer to faith healing than it is to that time honored social science.

The story continues …..

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