Dannon's Journal: Westley's Law

No, this isn't anything about CleverNickName. It's an economics thing.

Governments Thrive on Low Expectations
By Christopher Westey

[...]
As a young economist, I still have time to perform some professional act that will gain notoriety for myself. Of course, I would prefer notoriety of the good kind, so the creation of a Westley curve is out of the question. My own Law of Political Economy is in order. For it to catch on as a generally accepted truth, both in the economics profession and in the culture at large, it must, like Say's and Gresham's Laws, be simple, obvious to everyone, and (as-of-yet) unstated.

Thankfully, I have devised such a law that meets these requirements. Westley's Law states that government grows on low expectations. That's my ticket to notoriety: an emperor-has-no-clothes statement that everyone knows is true but, in the age of the Leviathan state, no one wants to hear. It means that consumers apply much lower standards to government output, no matter what it is, than they do to the output that results from private markets. As a result, life is more costly, dangerous, and short.
[...]

Humm

[GMontag]

Seems he is not interested in anything useful, like creating a new option pricing model, etc.

I see a great future of National Socialist consulting for this fellow.

Re:Humm

[Dannon]

And a simple, no-brains-needed, no-room-for-arguement refutation of the myth that any problem can be solved by government isn't useful? ;-)

Good read

[Red Warrior]

especially as I was just debating "universal health care" in a different JE.