Professional economists and theorists believe in models, idealized constructs, and universal truths. Euclid couldn’t have made all of his geometric postulates without assuming the universal truth that triangles all have exactly 180 degrees in them.* Free market thinkers can’t work without assuming the universal truth that markets are rational. Communists can’t work without assuming the universal truth that people can and will work hard, efficiently, and well for a collective.
Sphere: Related ContentArchive for November 10th, 2008
Daniel Gross is published in a lot of places because he’s intelligent and well educated and a good writer. But in this new article up on Slate.com, he completely misses the mark. Gross talks about the well off voting against their economic interest by supporting Obama, who promised to raise their taxes. This is true, the wealthy will pay more taxes under an Obama administration than they would in a McCain administration. However, paying higher taxes while making more money leads to a higher net profit than does paying low taxes while earning little money.
Sphere: Related ContentTags: economic interest, enlightened self interest, greenwich, obama vote, rich
