Wednesday, September 07, 2011

Platform idea

My favorite features at Marginal Revolution are their "markets in everything" posts.  They have even created a seperate URL for their collected posts on the topic.  I see that various other bloggers have picked up on the idea.

Here is one I have not seen before:  this morning's LA Times includes this story about a local university that will pay employers to hire their grads.

This week's game-of-the-week is to anticipate what President Obama will say when he gives his "jobs" speech.  And we are into election season and all of the candidates are getting on board with their stories on how they will "create jobs".

I stick to the idea that market participants "create jobs" but politicians can get in the way; they cannot "create jobs" although they eagerly talk as though they could because of the widespread belief (hope) that they have such powers. 

Offering to "get out of the way" does not resonate any more.  Voter are eager to believe that politicians can "create jobs" and politicians are eager to pander to the idea.  Democracy is a mixed blessing. 

I am still waiting for the candidate who pledges that he or she will not run for a second term if specific targets are not met by a certain date.  Targets could include a specific jobless rate (or employment rate), and inflation rate (any measure specified in advance), a spending level, unfunded liability level (Medicare) and/or any others.  I would love to see one of them offer to tie themselves to the mast.  They might then discover the merits of a lower policy profile.