New at Reason: Sheldon Richman On Government Job Creation

MSNBC anchorman Lawrence O'Donnell believes in government job creation because just look at all the politicians there are, and they all have jobs! In his latest column, Sheldon Richman explains why O'Donnell's logic will always lead to disappointment: "Since whatever resources government consumes in its quixotic job-creation exploits must first be taken from others, even if the government were to get lucky and create a few jobs, it would still come at the expense of others. Scarcity strikes again. It doesn’t matter if the government taxes, borrows, or prints the money. In each case real resources are transferred from the private economy to politicians who have no way of intentionally doing anything economically useful with them."

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