1. There is no such thing as a free lunch
2. More specifically, there is no such thing as “free” college, “free” medical care, etc.
3. There are two laws that nobody can change—the law of gravity and the law of supply and demand. Don’t even think about changing them.
4. So why do people (especially those in the political class who somehow believe they are deities or at least Masters of the Universe) think that government can change the latter when nobody else can?
5. More specifically, government can’t mandate wages and prices (see items 3 and 4 above)
6. But suppose that government could mandate wages and prices. Then why not mandate all wages and prices so that we can afford everything we want and earn enough money to pay for it all?
7. Wages and prices aren’t abstractions whose changes don’t affect anything else. When they change, we change our behavior in response. That’s how the law of supply and demand works. Nobody is unaffected by this law. This especially includes academics and members of the political class who either don’t understand basic economic principles or they do, but believe that they are exempt from them.
8. There is no such thing as “government” money, either. Government doesn’t have any money. It only has what it has stolen from us.
9. Much taxpayer money is used by the government to meddle in our lives. So why do we blindly tolerate government interference in our lives and the use of our money to do so?
10. We’ve become a nation of whiners and wimps, who instinctively run to Daddy (i.e., the government) when we don’t get our way. If things don’t go our way, why can’t we simply take action on our own by taking our business elsewhere without running to Daddy (and at the same time, saving taxpayer money in the process)?
11. In summary, everyone needs to know these basic economic truths of items 1 through 10 and rid our minds of all of the economic falsehoods that we’ve been misled into believing.
12. Especially HS students. Forget STEM—what should be required is economic education incorporating items 1 through 11.
13. And lastly, ditto for the political class. Yes, that means you, Hillary, Bernie, and AOC. I’m sure you and just about anyone else in the political class took Economics in college, but to use Bill Clinton’s signature phrase, you “didn’t inhale.”