Now we all know that Paul Krugman is a political hack who perpetually confuses Keynesianism with Economics. And we all know that Mitch McConnell is a RINO who has been in Washington so long he's forgotten who it was that sent him there and why. So it should not surprise us that these two men, despite their divergent histories and philosophies, should entertain the same delusion – that the government can control the economy.
Whenever the economy improves, both Democrats and Republicans take credit for it. If the economy falters, the Democrats blame the Republicans and the Republicans blame the Democrats. The truth, of course, is that the economy is a separate entity, totally divorced from, disinterested in, and virtually incapable of comprehending the political machinations of Washington DC.
It's not surprising that the same egomaniacs who think they can control the climate would think that they can control the economy, but the plain truth is that the only effect the government can have on the economy is to choke it with taxes. And the only salubrious effect the government can have on the economy is to reduce taxes. The government is nothing more than a brake on the economy. It can impede its velocity more or it can impede it less, but it cannot stimulate it and it cannot control its direction.
Economies are created and driven by dreams. From Pattillo Higgins at Spindletop Texas to Steve Jobs in a garage in Los Altos California, all great industries started with an impossible idea. Entrepreneurs make economies – men with the foresight to identify opportunities, the courage to take risks, and the persistence to carry on in the face of defeat and discouragement. Entrepreneurs, in other words, are the polar opposites of politicians.
Politicians worship the safe and secure status quo. They view change as dangerous and they pursue consensus as the primary virtue. They are herd animals who are deathly afraid of standing out from the crowd. In other words, politicians are democrats, and democrats have demonstrated themselves to be philosophically incapable of building or sustaining an economy.
We have a prime example only ninety miles off the southern coast of Florida of the results of allowing democrats to control an economy. The overriding problem with democracy is that it is the precursor of Fascism. When the well intentioned democrats discover that their ideology is incompatible with the free expression and free market foundation necessary to every economy, they invariably impose government controls in an attempt to make the economy work in spite of their destructive efforts. And that, invariably, strangles the economy to death.
It has taken Russia and China generations of human suffering to discover this basic truth. Do we really have to go through the same painful process to rediscover it?