On The Other Hand

Yesterday we had kids to be proud of.  Today we have adults to be ashamed of.  Jodi Foster, a person thought to be pretty smart, is quoted on Facebook as saying this:

Attacking the rich is not envy.  It is self defense.  The hoarding of wealth is the cause of poverty.  The rich aren’t just indifferent to poverty; They create it and maintain it.

It is Facebook so it is entirely possible that Jodie didn’t say that.  Somebody, however, thought it was worth saying and attaching Jodie’s name to it.  If you think the size of the pie is fixed consult history or ask Deirdre McCloskey.  The most important fact in economics is that the pie has expanded in Europe and other English speaking countries for over a couple of centuries.  It has expanded more recently in other countries that have make similar choices about expansion.

Now if Jodie is taking about the rich folks that want to raise the minimum wage or restrict the economy in other ways then we might find some common ground in the last sentence.  We don’t think that is what she means.

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