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Friday, July 2, 2010

Video: The Rahn Curve and the Growth-Maximizing Level of Government

In a very timely video, Cato scholar Daniel Mitchell argues that: 'Government spending can promote economic growth if money is used for core "public goods" such as rule of law and property rights. But the burden of government spending in the United States and other industrialized nations is far higher than needed to finance such activities.'

But I'd argue that the key take away here is not how big government is, but the kind of role it plays (which Dr. Mitchell certainly indicates when he discusses the core "public goods" government is supposed to provide).

While the size of government and the amount of its spending is a good symptom of a government run amok, the fundamental cause is the government using the force of its laws to do something other than protect life, liberty, and property (namely- to injure life, liberty, and property).

Watch the video below:

W. E. Messamore, Editor in Chief
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