The government decides to try to increase the middle class by subsidizing things that middle class people have: If middle-class people go to college and own homes, then surely if more people go to college and own homes, we’ll have more middle-class people. But homeownership and college aren’t causes of middle-class status, they’re markers for possessing the kinds of traits — self-discipline, the ability to defer gratification, etc. — that let you enter, and stay, in the middle class. Subsidizing the markers doesn’t produce the traits; if anything, it undermines them.Espoused in this post and named in this one.
One day you wash up on the beach, wet and naked. Another day you wash back out. In between, the scenery changes constantly.
Friday, December 2, 2011
Reynold's Law
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