“Allocation of scarce resources”
To the Editor:
From the birth of this country until recently, capital (a scarce resource) was allocated by “the market”. By the “market” I mean our economy and not necessarily the stock market. If you applied yourself in school, took risks, worked hard and/or smart, chances are “the market” rewarded you. If you were a skilled plumber and someone needed your services, you were rewarded with work and money. While efficient, this type of system can at times be harsh, especially if you choose not to do those things that will prepare you to compete with others for scarce resources.
But not long ago, this country, specifically, some of our elected officials, decided to take us down a new path, one that sought to substitute the harshness of “the market” with compassionate policies. With this new system, individuals no longer need to worry about how “the market” will treat them because the compassionate policies of the politicians will provide for them. No longer do people need to worry about school achievements, learning a trade or skill, despair over taking risks (i.e. opening a business), or make tough decisions about when to start a family. With the compassionate policies of the politicians, and I would argue to the detriment of our society, individuals no longer need to compete in “the market.” And we wonder why our national test scores are among the lowest in the industrialized world, struggle to compete globally and have growing income disparity?
Printed in the November 15, 2012 edition