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/snark

I'm convinced that politicians actively promote economic and historical illiteracy. As long as the masses are kept ignorant, it's much easier to feed them misinformation and lies, like the granddaddy…we can inflate and spend our way to Utopia!

So how about another Stimulus, bigger than the first!!!!

/snark

I'm convinced that politicians actively promote economic and historical illiteracy. As long as the masses are kept ignorant, it's much easier to feed them misinformation and lies, like the granddaddy…we can inflate and spend our way to Utopia!

So how about another Stimulus, bigger than the first!!!!

It could be the other way around – a politician distorts a market thereby creating a shortage (supply is less than demand) then using his position to ration to favored parties the remainder. In this way the interest group is a creation of the politician. Using this logic, Politicians understand economics just fine, they just have really screwed up incentives to deprive us of the public goods of rule of law or market prices.

http://www.newrules.org/retail/news/death-category-killers

talk about not learning….

I'm trying to imagine WWII waged without massive government manipulation of markets, wages, freedom, etc.

It's hard to do.

It could be the other way around – a politician distorts a market thereby creating a shortage (supply is less than demand) then using his position to ration to favored parties the remainder. In this way the interest group is a creation of the politician.

Don't you think you may be giving politicians too much credit. Usually, the distortion and associated shortages or over-supply occurs as an unintended consequence of some central planning attempt or other. Thus, the market distortions are not the goal but a consequence of politicians pursuing their own self interest. Interest groups, however, exist in the absence of politicians. Politicians can enhance the ability of interest groups to achieve their objectives by way of rent seeking rather than through more productive means, but I don't think interest groups are necessarily created by politicians.

The explanation of why minimum wage – for example – is so bad is not exactly rocket science, and it has some history to back it up, but of course, just try to explain it to someone who has made up their mind.

where do you start with that?

"A United States War message prepared by the War Advertising Council; approved by the Office of War Information"

it was definitely a good p.r. move to relabel it as defense.

I don't think it matters if they do it consciously or not. The empirical results are the same. It is not important to see inside the mind of the politician. But that said, there are plenty of examples in developing countries of politicians developing imbalances to create patron-client networks.

Boss-machine city politics in the 19th century was such in the US. Create a regulation where you limit access to a right, say a liquor or business license, then pick winners and reap the political rewards.

Secondly, think about interest groups without politicians… that would be impossible. Someone has to have political power to reward collective action.

Lastly, this is Bates' formulation, not mine. But I do find it compelling.

What is the difference between a political party and an interest group then?

I don't think it matters if they do it consciously or not. The empirical results are the same.

I think it matters if they do it consciously only because the implications are more sinister.

The ad is essentially trying to promote tolerance among the civilian populace of a shortage of goods and services, at the then-current nominal price; it's also trying to cause a shift of demand with respect to time.
Assuming the necessity of the war effort, and assuming that the shortages and delayed demand were not going to last into peacetime, this doesn't seem that unreasonable.

Wouldn't the most likely alternative to civilian rationing have been materiel shortages in the military? I know the military can create waste just as much as any other public organization, but it seems to me that in the instance of WWII that could have been indulged in the short run.