You make a very good point. In this post I didn't argue the case for experience and wisdom, which tend to come with age. And those might very well outweigh self-interest. My proposal was intended to be thought-provoking. As I suggested at the end, it's not likely to happen. But we still ought to be able to figure out how to get our system to do a better job with issues that require short-term costs to achieve long-term benefits. Another method would be to distinguish, in government budgets, between investment and consumption, when calculating deficits. Repairing a bridge costs money now but will pay off for decades, unlike salaries for government workers. Both might be worthy, but they are different in their effects on the long-term health of the economy. Businesses distinguish between investment and consumption; government should be able to do so as well. But thanks for pointing out the other side of the argument.
This has been my favorite Substack ever since I discovered it a few months back. I find all your posts well reasoned, informative, and spot-on. But this baffles me. Two things come to mind:
1. Older folks don’t make every decision based on pure selfishness.
2. Young people tend to lack the wisdom that comes with living in the world for awhile. If youngsters today were given two votes, I’m afraid something like the Green New Deal would be passed, which would be a disaster both for the country and for the worthwhile goal of combating climate change. I’m thinking about how little I knew when I cast my first vote at age 18…
You make a very good point. In this post I didn't argue the case for experience and wisdom, which tend to come with age. And those might very well outweigh self-interest. My proposal was intended to be thought-provoking. As I suggested at the end, it's not likely to happen. But we still ought to be able to figure out how to get our system to do a better job with issues that require short-term costs to achieve long-term benefits. Another method would be to distinguish, in government budgets, between investment and consumption, when calculating deficits. Repairing a bridge costs money now but will pay off for decades, unlike salaries for government workers. Both might be worthy, but they are different in their effects on the long-term health of the economy. Businesses distinguish between investment and consumption; government should be able to do so as well. But thanks for pointing out the other side of the argument.
This has been my favorite Substack ever since I discovered it a few months back. I find all your posts well reasoned, informative, and spot-on. But this baffles me. Two things come to mind:
1. Older folks don’t make every decision based on pure selfishness.
2. Young people tend to lack the wisdom that comes with living in the world for awhile. If youngsters today were given two votes, I’m afraid something like the Green New Deal would be passed, which would be a disaster both for the country and for the worthwhile goal of combating climate change. I’m thinking about how little I knew when I cast my first vote at age 18…