Posts
Re: Cato's Letter, Winter 2023, Volume 21, Number 1..."Liberty, Optimism, and Superabundance" by Lawrence Summers
"I was skeptical about Larry Summers writing in your latest Cato's Journal about "Liberty, Optimism, and Superabundance". Turns out I was right. After endorsing the "incredible outcomes" that "markets and science produce", he claimed that this "is not to say that those outcomes cannot be made better through collective and planned action." Really? Such as building a better ball point pen, an example Summers used to highlight market success? How about the collective and planned programs of Social Security and Medicare, which CATO admits must be reformed. But wait! Ms. Romina Boccia is going to tell us how to fix these disasters. How? By the turning them into nothing more than welfare programs; i.e., taxing the successful and handing out benefits to "those who most require taxpayers' support." What a novel idea. Whatever happened to independence and self-reliance?"
Patrick Barron
