The Electric Commentary

Tuesday, November 27, 2007

Quote of the Day

From Bryan Caplan's "The Myth of the Rational Voter:"

For an individual to prosper, he only needs to have a job. But society can only prosper if individuals do a job, if they create goods and services that someone wants.

Economists have been at war with make-work bias for centuries. Bastiat ridicules the equation of prosperity with jobs as "Sisyphism," after the mythological fully-employed Greek who was eternally condemned to roll a boulder up a hill.

Here is Tim Worstall, on a similar note.


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