Liberals are right to feel that social justice matters, that the poor should have greater opportunity and that government in a democratic society cannot remain indifferent to the existence of great social evils.Read the entire article.
But where liberals in America have the freest hand—in states like New York, California and Illinois—we see incontrovertible evidence that the policies they choose don’t have the consequences they predict. California by now should surely be an educational, environmental and social utopia. New York should be a wonder of glorious liberal governance. Illinois should be known far and wide as the state that works.
What’s interesting about the governance failures of these states is how comprehensive they are. Other than politicians, union officials and Wall Street investment banks, nobody really benefits from the choices Illinois has made. As the Volker-Ravitch report tells us, even the public sector unions, the architects of many of the state’s most destructive policies, are going to get shafted as a result of the bad policies they’ve supported. They’ve created a state that simply won’t be able to honor its promises to the workers the unions represent.
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Monday, November 12, 2012
Liberals Care About Social Injustice But Their Solutions Do Not Work
Posted By Milton Recht
From The American Interest Via Meadia, "News From Obama’s Home State" by Walter Russell Mead:
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