Entropic Creation
01-10-2007, 08:39
Democracy only works until the electorate figure out that they can vote themselves the treasury. Politicians effectively buy votes through patronage of various groups – they use public funds to bribe the electorate. Some countries are a little more obvious than others, but it happens in every democracy.
People are sufficiently selfish and shortsighted to vote based on which politician can steer the most to them. Any politician who is actually working for the greater good and benefiting the nation as a whole quickly loses to the politician that makes the most outrageous campaign promises.
Of course there are some that are still sufficiently ignorant of basic economics to think that the government can provide everyone with a high standard of living for nothing, because obviously governments can just conjure resources out of thin air free of charge. I would like to think that most people understand enough to know that every promise comes with a cost.
Promise steel workers high tariffs on steel might help steel companies by reducing competition, but everyone in the economy (including those very steel workers) are harmed by the higher cost of steel. Give yet more subsidies to corn growers and you raise taxes (which cause considerable harm to the economy through administrative costs, bureaucratic inefficiency, and dead weight loss) to just make even more excessive production far beyond what is necessary (then of course you have to do something with that excess production, so you promise more subsidies for turning it into corn syrup or ethanol at even greater cost to the tax payer) which reduced resources for everyone else. I could go on and on.
So why? Is it that people are just so ignorant of basic economics that they think there are no consequences – that government largess is costless? Or is it that people are willing to see everyone worse off if they might end up less worse off than most other people?
People are sufficiently selfish and shortsighted to vote based on which politician can steer the most to them. Any politician who is actually working for the greater good and benefiting the nation as a whole quickly loses to the politician that makes the most outrageous campaign promises.
Of course there are some that are still sufficiently ignorant of basic economics to think that the government can provide everyone with a high standard of living for nothing, because obviously governments can just conjure resources out of thin air free of charge. I would like to think that most people understand enough to know that every promise comes with a cost.
Promise steel workers high tariffs on steel might help steel companies by reducing competition, but everyone in the economy (including those very steel workers) are harmed by the higher cost of steel. Give yet more subsidies to corn growers and you raise taxes (which cause considerable harm to the economy through administrative costs, bureaucratic inefficiency, and dead weight loss) to just make even more excessive production far beyond what is necessary (then of course you have to do something with that excess production, so you promise more subsidies for turning it into corn syrup or ethanol at even greater cost to the tax payer) which reduced resources for everyone else. I could go on and on.
So why? Is it that people are just so ignorant of basic economics that they think there are no consequences – that government largess is costless? Or is it that people are willing to see everyone worse off if they might end up less worse off than most other people?