by Ryan McMaken
My thanks to The Lens in Washington state for covering Saturday’s Mises Circle in Seattle, with a lot of attention to my talk on “Three Lies You’ll Hear from the Candidates this Year.”
One claim you’re likely to hear during this year’s presidential election cycle is that the U.S. doesn’t spend enough on helping out the poor, compared to other countries. There are other economic tropes from fans of bigger government, that permeate campaign season. These include: regulations lead to better work conditions, and more government spending is needed to rein in higher education costs. But they’re all myths, according to Ryan McMaken.
Economic Myths Die Hard
In reality, the U.S. government spends about as much as other Western countries on benefits like Social Security; greater productivity is what improves working conditions; and rising college costs are the result of government student loan subsidies, not a lack of spending, McMaken said.