Tuesday, April 14, 2015
A Hard Lesson from Reminisce
One of the activities that we do at work is to look at the cost of items many years ago (1949, 1953, etc.) and, guess what, folks, the sectors of the economy that have risen BY FAR the most just happen to be those areas in which the government has most actively inserted itself; health-care/medicine, education (tuition at Harvard was about $800 a year back in the late '40s), and housing. Not this should be surprising to anybody who's ever opened an introductory economics textbook, mind you (the fact that whenever you subsidize anything you tend to increase the cost of it), and the progressives will probably continue to be clueless, but at the very least it's compelling.