Another Mercatus Center colleague, Jayme Lemke, argues that history should pay more attention to the many ways that ordinary people solve problems without the assistance of – indeed, often in spite of – governments and Great Men.
And millennials fear, for good reason, that they may not enjoy the financial security their elders do. But this danger has been foisted on them not by private capitalism but by proto-socialist policy excesses that already put the future viability of welfare-state benefits in doubt. It was Barack Obama and a Democratic Congress that expanded student lending, inviting young people to run up much of today’s $1.5 trillion in college debt. Their expensive educations have apparently been deficient in economics and 20th-century history. They simply hope that Mr. Sanders or Elizabeth Warren will write off the debt and add it to the $1 trillion the government is borrowing each year to keep our existing welfare state afloat.
“The progressive party’s Iowa caucuses were a hilarious parody of progressive governance – ambitious, complex, subtle and a carnival of unintended consequences.” – so begins George Will’s latest column.