Dr. Madsen Pirie (also of this parish) discusses why the arguments of the left wing are wrong. These arguments have been raised before, but the left still seem to wish the world would conform to their ideology.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”https://www.adamsmith.org/blog/common-errors-of-the-left” color=”” class=”” size=””] It can be depressing to have to revisit arguments won long ago, but some politicians continue to cling to errors that have been exposed, simply because they wish the world were other than it is.[/perfectpullquote]
He discusses:
1. Taxes do not change behaviour
2. Price caps make things cost less
3. Minimum wages help the low paid
4. Corporations pay taxes
5. Improvements for the poor must be paid for by the rich
Only if young Owen would take stock, eh?
Read the full report here
