Reynolds’ Law

Glenn Reynolds, via Philo of Alexandria:

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.

Be sure to read Philo’s excellent commentary on this.

h/t David Thompson

About these ads
Follow

Get every new post delivered to your Inbox.

Join 42 other followers

%d bloggers like this: