Posted on 10/31/2025 5:39:35 AM PDT by MtnClimber
New Jersey is another cautionary tale.
Magical thinking, yes. But also Zero Sum thinking — the wealth of the world is just the wealth of the world. It doesn’t seem to change. It doesn’t seem to be created. If a billionaire has a billion dollars, he didn’t “create” that wealth: he stole it. He stole it from the poor working people. Redistribution of wealth just moves money around from the people who stole it, to the people who did all the work. This sort of Zero Sum thinking is totally false and underpins a lot of Left-wing economic illiteracy.
They operate in an alternative fantasy reality.
Bkmk
Menton does not give sufficient credit to natural resources which, even more in the past, form some of the wealth of a nation. This is significantly less, now, that we do not live in the skins of animals and that there are more of us.
Most wealth, now I believe, is created as Menton describes, but even the greatest of systems cannot compete without natural resources.
You would think they learned their lessons from watching other areas (like Texas) pursue renewables while they took their stable forms of energy generation off line (and had them knocked offline) resulting in a disparity between supply and demand which combined with the weather resulted in a disaster.
Worse, was this quote from Sherrill the candidate: "...It’s time for action, because people just can’t wait any longer. So on Day One as New Jersey’s next governor, I’m going to declare a State of Emergency on Utility Costs and freeze your utility rates..."
Freeze the rates. That is indeed "Magical Thinking". If nobody had ever tried "freezing the rates" before, you might understand a shallow thinker being unable to think it through and see it as a viable solution.
But it has been tried. Repeatedly. And every single time it has been tried in history, everywhere, freezing the cost of something by government fiat has resulted in gross mismanagement of the supply and distribution that manifests itself in a shortage of the thing having the price frozen on it.
Well, I see Sherrill and the rest of her Marxists have that adequately covered. She said: "...I will instruct my Attorney General to take Trump and New Jersey’s grid operator, PJM, to court-in coordination with governors in our region-to force them to end their mismanagement..."
Whew. Well, glad to see they have that part covered.
“We’re living in the richest country in the history of the world. Right. Alright, you tell me why we’re the only nation not to guarantee healthcare to all people. The only nation, not to guarantee paid family and medical leave. Why We have a $7 25 cents an hour minimum wage.”
We are living in the richest nation in history because people were able to build and create without having to be burdened by those who would tear down, steal, or absorb the goods of others. Bernie’s answer for such success is to adopt a known failing strategy to help some now, but to enslave and impoverish everyone later. While many look down upon the ‘Robber Barron’s’ that built America, those actions resulted directly in the United States survival, and the free world’s survival, through 2 world wars and 1 cold war.
Children: We want this and this and this and this!
Parent: We can’t afford that - don’t have the money.
Children: Then buy some!
A most apt observation.
Some work and produce. Others idle and expect the output of production by others to feed them in one way or another.
The Left wants to ignore: "For even when we were with you, this we commanded you, that if any would not work, neither should he eat." [ Thessalonians ]
Moreover: "In all labour there is profit: but the talk of the lips tendeth only to penury." [ Proverbs ]
Speaks rather well to why "Socialists Get Everything Wrong."
Isn’t the source of a nations wealth in 2025 located at 14th & C Streets SW, Washington, D.C.?
That’s the main production facility of the Bureau of Engraving and Printing. That’s where the tsunami of fiat funny money emanates from
They live in Make Believe land.
They live in Make Believe land.
With flowers and bells and leprechauns and magic frogs with funny little hats.
This is why I hope Mamdani is elected - let the world see the effects of his “magical thinking” policies - free bus service, taxing “the rich,” free rent, defunding the police.
Of course, these lefties will blame Trump or evil Republicans when the SHTF, which it inevitably will. Happens every time it’s been tried.
That is the “Modern Monetary Theory” by which Obama/Biden gave us a 9% spike in inflation.
The Japanese might beg to differ. They’ve done pretty well without a lot of natural resources.
We can probably go ‘round and ‘round all day about how much a “lot” is, but you do have an interesting point.
An island is its own form of natural resource.
Adam Smith defined wealth in rather ambiguous terms. If you spend money on wealth, it generates more wealth.
The example he gives, if you spend money to tile a wet field, it is now useful to grow a crop on to generate more wealth to tile more fields.
The interstate system developed a lot of wealth initially. Then we encounter maintenance and the law of diminishing returns sets in. The return on maintenance is not as hight as the initial build.
Computers initially created wealth by improving decision making. Then they began to be used for bureaucratic record keeping and there was no longer any wealth developed.
Oil production generated a lot of wealth and then it became a consumption activity.
By the way, Adam Smith thought lawyers/govt were a consumption activity for the most part but limited quantities were still needed for wealth building.
Wealth building is a philosophy more than a prescription.
I am not sure what the next wealth building activity will be but they do always exist. History has shown us they start small with individuals.
I remember this white northern kid encounter a prosperous enough black gentlemen down south. We talked some and he said he watched the Jews a lot. “A Jew will see a piece of paper floating down the street, grab it, do something with it and make some money. I watched them a long time.”
For me, that was always race relationships, learning from each other.
I am a bigot on behavior, don’t care about skin color.
This is not relevant.
Socialists don't care about right and wrong.
They don't care about public safety, truth, justice, fairness, equity, etc.
They only crave unfettered power..
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.