BHO and Demos Not Even Trying

According to the economic theories of Ludvig von Mises, it is impossible for government officials to make efficient economic decisions. That is because their decision making process cannot duplicate the millions of individual decisions made every day by buyers and sellers in the market for consumer and industrial goods. Only the marketplace can evaluate the constantly shifting and interdependent wants and needs of consumption and production. This is referred to as the economic calculations argument for the free market.

Mises concludes that the market, therefore, best supplies the most urgent needs of humanity. Others have argued that the government can indeed calculate the important economic choices that lead to the optimum satisfaction of human needs. Unfortunately, with the progressive mind set at work, such attempts at providing for our most urgent needs are seldom even attempted. Instead, huge amounts of resources are devoted to very limited ends. These narrow goals are based upon the theories, dreams, visions, and whims (not to mention profits), of small special interest groups. The long term consequences of their actions are inadequately evaluated. What we generally get is wasteful expenditure and a situation that is ultimately worse than it would have been without any government intervention.

Little wonder that none of the recent schemes have improved the economy. The situation is like that in France when Bastiat was moved to say, "We have tried everything else, why not try the easiest of all, freedom." That is why this blog listed that quotation as one of the first posts. When will they ever learn?