Sunday, April 24, 2011
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.