Wednesday, November 27, 2013

Economic myths keep Americans confused

Myth: Private money is smarter than public money.

Reality: The self-driving car by itself should be enough to put this one to rest. But here is more anyway. People in the U.S. have been fed a steady stream of "government-waste" and "government-is-the-problem" propaganda. But in these messages, government projects are compared only with successful business. There is a vast wasteland of failed business which is not considered. Of course, there is such a thing as government waste -- corporate welfare -- but the propaganda rarely mentions it.

Myth: We have the automobile because people made a "market choice."

Reality: This one is laughable. The video "Taken for a Ride" details the premeditated destruction of the U.S. street car. In addition, the subsidy for autos and sprawl has been going for 100 years. We try to document it here and here.