Sunday, July 23, 2006
Paradox
Michael's post really got me thinking about something that's confused me since my first exposure to law and economics in my first year of law school. I'm sure Professor Bainbridge can provide the answer to this conundrum:
Why is it that, according to (many) legal economists, the sorts of things the poor think are good for them (e.g., labor laws, minimum wages, redistribution, etc.) are actually counterproductive and quite bad for them, but the sorts of things the rich think are good for them (e.g., estate tax cuts) are actually pretty much ok? Is it just that poor people are stupid or something?
I'm sure if I could just come to understand that whatever is good for the rich is good for everyone else, I'd be able to tap into a whole universe of truth and justice that continues to elude me.
https://mirrorofjustice.blogs.com/mirrorofjustice/2006/07/paradox.html