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Political Hay
Congressional Economics
Who says you can’t legislate economic prosperity and job security?
The House of Representatives is not exactly a bastion of economic knowledge. But it can be a goldmine for economic educators if they know where to look. Illinois’ 2nd District is a good place to start. Containing parts of Chicago and its suburbs, the district is currently represented by Rep. Jesse Jackson, Jr.
He recently gave two speeches on the House floor that inadvertently teach important economic lessons. In the first speech, delivered on March 2, Jackson teaches us that you can’t legislate prosperity. (You can watch it here.)
He argues for a Constitutional Amendment guaranteeing everyone the right to a decent home. Jackson asks, “What would that do for home construction in this nation? What would that do for millions of unemployed people?”
The Constitution should also be amended to guarantee the right to decent health care. Jackson implores, “How many doctors would such a right create?”
Education needs an amendment, too. “How many schools would such a right build, from Maine to California?” Jackson goes on to wonder how many jobs would be created by giving every student an iPad and a laptop.
Suppose that poverty really can be abolished by passing a few laws. Jackson isn’t going nearly far enough, then. The Constitution should guarantee everyone not just a decent home, but a mansion filled with servants to take care of every need.
Everyone should have the right to not just a doctor’s visit every 6 months, but a cadre of specialists with access to the latest technologies and tests. This would be a boon for life expectancy.
And why only an iPod and a laptop for children? They deserve supercomputers! And the right to a Harvard Ph.D. Such a law would give America the most educated population in the world; though it would probably know the least.
Congress might as well pass a law guaranteeing an above-average lifestyle for all Americans. Jackson has the right intentions, but results are more important. Clearly a law guaranteeing a decent living standard won’t give the results he’s after.
Jackson’s second speech, delivered on April 15, teaches us that wealth doesn’t come from jobs. It comes from innovation. (That speech is online here.)
Jackson says that the iPad — which he praised just six weeks earlier — has cost thousands of jobs. “Now Borders is closing stores because, why do you need to go to Borders anymore? Why do you need to go to Barnes & Noble? Buy an iPad and download your newspaper, download your book, download your magazine,” he said.
Congress’s top priority should be job security. Publishing companies and paper companies are under attack. Government needs to protect them.
If this is the way to full employment, then Jackson is again being too moderate. In fact, Congress can guarantee full employment by passing a single law: just ban the use of farm machinery. Everyone will have a job — as a subsistence farmer. That’s how we know that the number of jobs doesn’t have much to do with actual living standards.
Wealth comes from doing more with less. The iPad gives people access to more information while using fewer resources. When competition eliminates legacy industries like paper and publishing, it releases those resources into growing sectors instead.
Supercomputers for children? Subsistence farming? These reductiones ad aburdum show how unrealistic Jackson’s economic beliefs are. They also show the way what is right.
About the Author
Ryan Young is Fellow in Regulatory Studies at the Competitive Enterprise Institute.
About the Author
Jacqueline Otto is a spokeswoman for the National Rifle Association’s Institute for Legislative Action.
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JFGalt| 5.10.11 @ 7:56AM
Jackson seems to be an amalgam of some of the antagonists straight out of "Atlas Shrugged".
George S| 5.10.11 @ 8:27AM
While you are trying to teach economics to Jackson he is successfully teaching you politics... Apple has money, politicians are drawn to money and are paid handsomely to leave people alone. The shakedown thing is in his genes.
Patzer| 5.10.11 @ 8:27AM
Jesse Jr. used to be a regular presence on talk radio here in Chicago, until it was revealed that he was 'Public Official A,' involved up to his eyeballs in a scheme to buy B.O.'s senate seat from Blogo. He was strangely, mercifully, silent after that.
David W| 5.10.11 @ 9:08AM
Under Mr. Jackson's leadership, we would still be manufacturing buggy whips.... while the rest of the world would be building hybrid vehicles. As it is, we are building "wind mills" instead of nuclear power plants (which will cause the cost of energy to skyrocket, leaving us only able to use horse and buggy for transportation. Wait, maybe Jackson Junior is on to something).
Pecos Pete| 5.10.11 @ 10:37AM
Ummmm, China and other countries are doing the windmill and solar panel building. The USA ain't building anything because the EPA is regulating us into farming with oxen drawn plows.
PattyMor| 5.10.11 @ 9:38AM
Jesse Jackson, Jr. is just channeling his inner Communist. Mother Russia had full employment, but bare shelves at the same time. Crappy products and subsistence living. By golly, I think we have found a formula for nirvana.
Dan Hirsch| 5.10.11 @ 10:13AM
In the USSR, they used to joke, "We pretend to work, they pretend to pay us."
Which is exactly where the destruction of the dollar is taking us.
Now there is a Commie hiding under everybody's bed!
An our dear authors seem to have missed a fundamental point of our constitution - rights come from GOD not government, or legislation, or especially legislators.
RIGHTS COME FROM GOD, NOT MEN!
But men are supposed to preserve and defend them.
Sheesh, Get it right, willya!
Semper fidelis..
Dan Hirsch| 5.10.11 @ 10:15AM
And another thing...
Jesse Jr. thinking that a 'right' to a doctor makes more doctors is completely addled.
You cannot have a right to someone else's labor or property without making that person a slave!!!
Why don't these people who still clamor for reparations for slavery from 150 years ago understand what it is?
Irish22| 5.11.11 @ 9:32AM
I believe that those in Congress who seek to confer "rights" upon the people seek to make themselves Gods. Their syllogism: Only God can create a right; I created a right; therefore I am God.
George True| 5.10.11 @ 10:47AM
Dan: Another joke from the old Soviet Union is as follows. When asked "How are you doing?" It was not uncommon to hear the response, "I'm doing average. I am worse off than I was last week, but I am better off than I will be next week, so I am doing about average".
Sadly, this is a good metaphor of where we are currently in this country.
Al Adab| 5.10.11 @ 11:31AM
All too many believe that making it a law makes it so. Were that the case there would be no murder at all. Economics is better understood through the invisible hand. The more we attempt to write positive law to cover all contingencies, the more loopholes we create. It's a self perpetuating cycle. Free markets and liberty better address the needs of society than central planning and regulation ever can. Someday perhaps we will learn this lesson.
emo| 5.10.11 @ 11:36AM
As stupid as Jesse Jackson JR is, he is still smarter than the rest of the CBC
Oldefarte| 5.10.11 @ 11:36AM
Of course, this is exactly the way that liberals/progressives/domestic terrorists/Democrats THINK, in that it should be a constitutional guarantee to an education, to wealth acquisition, to cadillac-planned healthcare, to affordable [by taxpayer funding that is] homes, etc. These morons conveniently ignore the element of EARNING IT, but rather want it to be GIVEN TO THEM AND THEIR CONSTITUENTS. The old Smith-Barney commercial used to proclaim the necessity to obtain money/wealth the old fashion way, which was/is to EARN IT!!!!!!!!!!!!!!
Oldefarte| 5.10.11 @ 11:39AM
PS: That's the problem with today's society [due to the liberals' mindset] which is that few people EARN IT. These people prefer that government legislated/dictate/mandate it, because otherwise their constituents will not obtain it [since most are stupid, lazy and incapable of EARNING IT!!!!
Bill Diebold| 5.10.11 @ 11:59AM
...typical political hack too stupid and lazy to earn a living. Living off and lying to the taxpayers. Enough already, Fire these steamy socialists piles November 6, 2010!
qwilly| 5.10.11 @ 12:25PM
Like father, like son: These two pimps from the prodjects have never created a job or ever had a real one. All they know is goverment cheese and shaking down other Americans to maintain their phoney lifestyles. I am so glad they are on display for all to see, even outside the inner city.
Padoux| 5.10.11 @ 7:22PM
Amen! These two are simpering, pandering, do nothing exploiters who contribute nothing.
Who Knows?| 5.10.11 @ 7:06PM
When Congress passes a LAW that says the PEOPLE have a right to free QUIET, which must begin with NOT even hearing ANYTHING Jesses Jackson or his son say,
then, and only then, will we be able to even BEGIN to get control of our masters, those who pretend to SPEAK for their slaves.
Yes, it reminds me of the old newspaper saying---never argue with someone who buys printer's ink by the barrel.
The gerrymandered plantation masters, especially those in the jackass party, don't even have to BUY their "ink", since they steal it from us all.
What a revoltin' condition!
Padoux| 5.10.11 @ 7:20PM
The man is in Congress???? God help us! His speeches, to quote young Frankenstein, are the nonsensical ravings of a lunatic mind!!
John Navratil| 5.10.11 @ 7:45PM
Ah yes. Is he the worm or the spaghetti?
Frisbee| 5.10.11 @ 9:36PM
Great article. This Jackson guy is a raving loon. Why not just pass a law that everyone is happy?
Frisbee| 5.10.11 @ 9:40PM
False economic theories abound. I had a landlord that was a retired union-ist. He criticized me for maintaining my '64 Plymouth Valiant because he said it took a job away from somebody else. He could not see that "a job" is not wealth, but that the Valiant itself was wealth. (Okay, not a great example of wealth. )
Richard Baker| 5.11.11 @ 7:50AM
Like Father, like Son. Are there two more stupid speakers in the public arena? Maybe we need an Amendment mandating a 15-day waiting period before a Member of Congress speaks any of their thoughts in public.
Dee See| 5.12.11 @ 2:30AM
---Great article.
BTW ---as David Rockefeller just months ago
called for MASSIVE and RAPID 'depopulation'
(ie extermination) 'by any and all means'
the greatest world nuclear disaster in history
is going unreported.
Try not to giggle.
-------------------------------------JUST TRY
weddingdresses | 6.23.11 @ 5:41AM
Great article. This Jackson guy is a raving loon. Why not just pass a law that everyone is happy?