I think this all gets to the point that the biggest differences I see between Republicans/Chicago School and Leftists/no school or just propaganda is their understanding of how wealth is created.
The economic right understands that wealth is created via efficient markets. It is, as you say, Mr. Carter, the action of transparent information connecting a buyer and a supplier. An exchange happens that pleases both parties, and our economy is better off.
The economic left mostly believes that markets are deceptive and manipulative. They also believe that commerce is mostly a Zero Sum game. Jeff Bezos only got rich because he stole it from millions of people and small businesses. Same with all the "robber barons" as the Left likes to call successful entrepreneurs. You can quibble that the Elon Musks have utilized government "incentives" to drive their businesses and wealth, but I see that as merely taking advantage of what is offered you. These people believe that the working man is actually creating much greater value than he receives.
Therein lies the heart of it. The right says, "leave it alone" because it is working fine if you would just stop manipulating and tinkering with it. The left says, we don't trust any of it, and therefore we need Central Planning to fix all of the market's evils.
Even if that were true--and I firmly believe it not to be--Central Planning doesn't work. It just invites a much greater magnitude of that deception the Left claims exists in the market model and now injects a singular agenda (of one party, group or individuals) into it.
In short, one is freedom, and the other is nanny state controlling of all of our destinies.
I love talking about this stuff, and could go on forever. But does anyone else have a different theory of the difference between the Left and Right in terms of economic models?
I agree Jeff. Th Democrats so-called "Anti-Inflation" bill will cause inflation and this is only a dog and pony show that they will say that the Biden Administration is doing things for the regular Americans. And the CHIP bill is nothing but corporate welfare.
I think this all gets to the point that the biggest differences I see between Republicans/Chicago School and Leftists/no school or just propaganda is their understanding of how wealth is created.
The economic right understands that wealth is created via efficient markets. It is, as you say, Mr. Carter, the action of transparent information connecting a buyer and a supplier. An exchange happens that pleases both parties, and our economy is better off.
The economic left mostly believes that markets are deceptive and manipulative. They also believe that commerce is mostly a Zero Sum game. Jeff Bezos only got rich because he stole it from millions of people and small businesses. Same with all the "robber barons" as the Left likes to call successful entrepreneurs. You can quibble that the Elon Musks have utilized government "incentives" to drive their businesses and wealth, but I see that as merely taking advantage of what is offered you. These people believe that the working man is actually creating much greater value than he receives.
Therein lies the heart of it. The right says, "leave it alone" because it is working fine if you would just stop manipulating and tinkering with it. The left says, we don't trust any of it, and therefore we need Central Planning to fix all of the market's evils.
Even if that were true--and I firmly believe it not to be--Central Planning doesn't work. It just invites a much greater magnitude of that deception the Left claims exists in the market model and now injects a singular agenda (of one party, group or individuals) into it.
In short, one is freedom, and the other is nanny state controlling of all of our destinies.
I love talking about this stuff, and could go on forever. But does anyone else have a different theory of the difference between the Left and Right in terms of economic models?
I agree Jeff. Th Democrats so-called "Anti-Inflation" bill will cause inflation and this is only a dog and pony show that they will say that the Biden Administration is doing things for the regular Americans. And the CHIP bill is nothing but corporate welfare.