Tuesday, December 13, 2011

Culture is what it's all about.

Culture is what it's all about.

Gresham's Law: "Bad money will drive out good"... meaning that when government compulsorily overvalues one money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation.

The Sloth's Law of Culture and Welfare States: "In any comprehensive welfare state, bad culture will drive out good"... meaning that by focusing on alleviating the symptoms of poverty, and refusing to allow failures to utterly fail, well meaning governments end up subsidizing destructive behaviors and punishing constructive ones. Government is artificially overvaluing failed cultures and undervaluing successful ones.

The welfare state inadvertently ends up empowering the live-for-the-moment culture of the poor and undercutting the build-for-the-future culture they are seeking to spread.

No comments:

Post a Comment