So, the things that capitalism produces have fallen in price over the past couple of decades. That’s the pure and unadorned free market capitalism that is. The things where we’ve a managed sorta capitalism have still fallen relative to wages. The things where the government is rather more responsible for production – education and healthcare – have risen in price with respect to wages.
This is the argument that government should run more of the economy of course.
No, don’t laugh, it is. Because these things are rising in price is exactly why, so the argument goes, government must regulate and control more, so as to lower the price.
Tim Worstall, “Ain’t Capitalism Great? Price Changes Over The Last 20 Years”, Continental Telegraph, 2019-07-13.
November 4, 2023
QotD: The munificent benefits of big government
Filed under: Economics, Education, Government, Health, Quotations — Tags: CentralPlanning, Laissez-Faire, SocializedMedicine, University — Nicholas @ 01:00
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