How to Make Policy That Serves Us, Without Hurting Us

Everyone that cares about politics, should have an understanding of economics. Irwin Schiff’s cartoon, How an economy Grows? provides an easy to understand basis for economics, that doesn’t make the eyes glossy. One shouldn’t take everything  literally, and I’m not endorsing it in full, but much of the underlying theories are good.

Conservative’s tend to subscribe to Adam Smith’s economic theory which states, “The best result will come from everyone doing what is best for themselves.” This is where the every man for himself mentality derives from, and it is true to some extent. Until Adam Smith’s theories began being implemented, we never lifted the poor, or had a middle class.

This economic theory, which does form the basis for our system was expanded upon into “The best result will come from everyone doing what is best for themselves, and the group.” This is really where we should be. Knowing that if we implement policies that please any group, the benefit may only be to that group, at the expense of the rest. Sometimes though, a benefit that seems to only benefit a particular group actually has benefits to all. Things that provide income support to the unemployed can be the difference between loan delinquency and enough income to sustain loans until employment is found.

Through a reasonable understanding of economics, we can formulate better policy that better serves us all.

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