Nobel Prize Does Not Equate To Intelligence

J.J. Jackson* | March 9, 2008

Filed Under Economy / Economics, General Goofiness, Liberals, The Economy

Doubt me? Well, I have evidence:

NEW YORK (Reuters) - The Iraq war has contributed to the U.S. economic slowdown and is impeding an economic recovery, Nobel-winning economist Joseph Stiglitz says. Meanwhile, the U.S. government is severely underestimating the cost of the war, Stiglitz and co-author Linda Bilmes write in their book, “The Three Trillion Dollar War” (W.W. Norton), due to be published on Monday.

The nearly 5-year-old war, once billed as virtually paying for itself through increased Iraqi oil exports, has cost the U.S. Treasury $845 billion directly.

“It used to be thought that wars are good for the economy. No economist really believes that anymore,” Stiglitz said in an interview.

Of course Mr. Stiglitz doesn’t address the TRILLIONS of dollars being spent on unconstitutional government programs where government confiscates our wealth, takes a lot of it to pay bureaucrats who do little besides handle the money and then turn over pennies on the dollar to those it is supposed to “help”. Somehow only money spent on actually constitutional spending (like wars) hurts the economy. Oh no, government subsidies, handouts and wealth redistribution ponzi schemes are apparently good according to this Nobel Prize winner.

He has said that the money could be better spent on hiring public school teachers (a power not found in the Constitution) and providing scholarships (again, another power not found in the Constitution).

So you have to wonder how smart Mr. Stiglitz really is. And when you realize that he isn’t that smart but instead simply interesting in promoting more socialist government you have to wonder who on Earth would give this man a “prize” for promoting ideas proven to fail time and again. Why, other socialists of course who really want to believe that their ideas work of course!

Contributor's website: http://www.libertyreborn.com

Similar posts:

*Content posted by a user may not be completely written by that user. Content from another source is cited in either block quotes, with quotes or with a link to the original material. Content from other sites is posted for commentary and news purposes under fair use. Each user is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or it's owner.