Have you ever noticed that the failed policies of politicians never really seem to be brought to light? How is it that despite their obvious shortcomings, the same policies are implemented time and time again? These interventions rarely have the promised effects, but they are somehow still deemed a success. In his book The Vision of the Anointed, Thomas Sowell explains the process by which politicians and their supporters are able to either create or take advantage of crises in order to increase their involvement in society. I thought it would be worthwhile to review this pattern as it applies to a more recent issue: the stimulus and bailout packages.
Starting with President Bush, and continuing into President Obama's term, the US government has paid out more than $11 trillion in stimulus money. Remarkably, there are many who believe that amount still wasn't sufficient. This article will show that both presidents believed the additional government intervention would solve our economic problems, not realizing that it was exactly that type of thinking that had led to the problems in the first place. The stimulus package has already passed through Dr. Sowell's pattern of failure, making it an excellent example for review. In even more current issues, such as the debt-ceiling increase, we are already beginning to see the early phases of the pattern. It is important that we understand this pattern so that we can identify and oppose measures that are contrary to the principles of true economic progress.
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