Sunday, January 2, 2011

Mankiw on cross-cultural understanding

A nice post, in the form of an open letter to President Obama, from Greg Mankiw to start the year.

The only part I would change a bit is the redistribution part. The democrats would do better to focus on helping the poor, and not just with transfers, rather than taking from the "rich", by which they mean mainly productive professional people and small business owners.

I particularly liked this line:
Despite their rejection of spreading the wealth, Republicans recognize that times are hard for the less fortunate. Their solution is not to adjust the slices of the economic pie, as if they had been doled out by careless cutting, but to expand the pie by providing greater opportunity for all.
Also not mentioned, and worthy of an open letter to nearly all democrats, is a reminder that there are lots of intelligent, well-educated, thoughtful and well-intentioned people who, quite mysteriously, do not worship the state.

Should be an interesting year inside the Beltway.

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