What are the odds that yesterday’s White House jobs summit will lead to the creation of any real jobs? The summit was based on the magic theory of government: Say the right incantations and reality will be reshaped according to one’s desires. There are no economic laws. There is only will. If we all think good thoughts and exude the spirit of cooperation, we’ll end these hard times and get the economy moving again.
This is the sign of a primitive mentality. In reality economic laws exist, reality sets limits, and good feelings can’t create prosperity out of nothing, especially when government stubbornly stands in the way.
The rest of this week's TGIF is here.