What Is Seen and What Is Unseen: Government “Job Creation”Submitted by joeneesima on Fri, 10/28/2011 - 11:33
I love reading well written articles that echo what Ron Paul teaches - check this out written in 2009 regarding O'bailout's bailouts:
What Is Seen and What Is Unseen: Government “Job Creation”
In the case of public works, Bastiat explained that government produces nothing independent from the resources and labor it diverts from private uses. When government borrows money to create jobs, what is readily seen are people employed and the fruits of their labor. However, what is generally not considered are the many things that could have been produced if the capital had not been removed from the private sector to fund the government programs in the first place. Such policies necessarily benefit some (the favored workers) at the expense of others (those who would have had the jobs that were not created) and eventually the taxpayers, who have to repay the debt.