S**t my economist says #3

As if by magic

The following joke is currently doing the rounds on the ‘Keep spending’ circuit

“A banker, a Daily Mail reader and a benefit claimant are sitting around a table. There are 12 biscuits in the middle of the table. The banker takes 11, and then says to the Daily Mail reader, “Watch out for that bloke, he’s after your biscuit!”

All very amusing no doubt but you might have found yourself asking ‘How did the biscuits get there?’

This joke reveals alot about the economic attitudes of those who make it. Wealth is just assumed to arrive out of nowhere. It isn’t even a given, it just appears as if by magic. It focuses on how wealth is divided, saying nothing about how it is generated.

And that is the crucial question. There can be no debate, no debate at all, about how to divide up national wealth until there is a clear idea of where that wealth will come from.


2 thoughts on “S**t my economist says #3

  1. Hey,Been having a look around your blog and like your posting style. I'm similar to you in outlook it seems, but I joined the Liberal Democrat party instead of the Tory party, and have been trying to explain essentially this post to left-wing LD members forever.What are your thoughts on the coalition? Best of both worlds or an utter mess? Think Clegg will pull through if everything turns out alright at the end?Anyway, I'll try to keep an eye out for your posts, from one blogger to another, it's nice to know whiggery is still alive and well in Britain today.

  2. Hello to a fellow Whig.I have no idea about the coalition. I was alot more positive about is survival prospects before the AV campaign turned nasty. Now, Im not so sure. I think that if it breaks it will be from the Lib Dem side, Cameron seems to feel less inclined to appease his right than Clegg does his left. My ideal outcome would be to see a realignment with a genuinely old liberal/Whig party emerging from the coalition. Get rid of the Tories from the Conservatives and Social Democrats from the Lib Dems and push on with the social and economic liberals left over.What are your thoughts on it all?

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