the corner office

a blog, by Colin Pretorius

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The real economy

I'm wary of quoting right-leaning writers (because in this day and age the message is so often tainted by the messenger, and because I don't like being associated with right-leaning thought, being of a rather vehemently classical liberal/libertarian slant myself). But if the message stands on its own then it's worth quoting. Telegraph columnist Janet Daley on the BS that Brown is spouting about the NI tax:

Being forced to stick to its planned payroll tax has not only cost Labour its credibility with the business community but has exposed its entire economic philosophy to the kind of brutal critical examination which it had (inexplicably) escaped before now. The absurd counter-attack that Brown and his spokesmen have launched against the Tory policy (that it would "take 6 billion pounds out of the economy") has broken open the debate about their lack of understanding of free market economics. Do they really not see that tax rises take money out of the economy by reducing the amount of wealth that is available for real transactions? Do they genuinely believe that "the economy" means state spending and not the earnings of real people? If not, then they are telling a desperate lie in order to manufacture some defence against the crushing onslaught against them from the business community. But if they believe that they are speaking the truth - if this really is the level of their understanding of economics in a free society - then we have the beginnings of an explanation for their previous delusion that they had put an end to "boom and bust".

ie. they are, as she said on Question Time last night: "Absolutely economically illiterate".

{2010.04.08 - 15:59}


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