According to the Wise Boy (aka Ezra Klein), the sequestration (automatic across-the-board spending cuts) proves that the U.S. government is “dumb.” Yeah, for Klein everything is dumb except more taxes and spending. He especially loves the high tax recommendations of the deficit reduction experts at the Hamilton Project which he thinks are very smart, indeed.
So Klein still cannot control his tax addiction, but really, should we even pay attention to him in the first place? One of the basic truths about, dare I say, collective action is that decentralized economies (i.e., based on markets and competition) easily outperform those that are centrally controlled and planned. It may seem that markets mess up, but if we take a closer look, we’ll usually see government behind the mess: gross mismanage-ment of the money supply and protectionism = Great Depression; insisting that everyone own a house = Great Recession.
Yet the ineffectiveness of Big Government doesn’t stop Klein from almost always supporting policies designed to place 315 million people under the thumb of a central authority for just about everything. If Klein fails to understand society’s most basic truth, how can he understand anything else? Maybe it’s time for the Wise Boy himself to wise up.