Monday, March 17, 2014
Our Bloated School Staffing
The mantra for government schools is always "we need more money". Really? The chart below shows what really happened to all that money -- hugely bloated staffing. Imagine what would happen to any competitive business where your G&A grew 17x as fast as your customer count. Government is all about preventing competition. It's also why Mayor DiBlasio in New York has declared war on charter schools -- because it might upset this sweet cycle of spending without results.
The Astounding Ignorance at the IMF
A new paper from the International Monetary Fund concerning "Fiscal Policy and Income Inequality" starts out with this remarkable gem:
“In the United States, the share of market income captured by the richest 10 percent surged from around 30 percent in 1980 to 48 percent by 2012, while the share of the richest 1 percent increased from 8 percent to 19 percent."
According to the International Monetary Fund income is "captured". Not produced, earned or generated. Captured. Apparently income is like rain. It just happens. And if you have a really big bucket or a tarp you can capture more of it as it falls than others can.
I have a question for the IMF. Steve Jobs and Bill Gates were two of the wealthiest people in the world. How exactly did they "capture" all that wealth? Did they hold a gun to the heads of the public and force them to buy iPhones and Xboxes? I vaguely recall people sleeping on sidewalks to be able to purchase them early.
The ignorance of the International Monetary Fund is simply breathtaking -- and probably helps to explain some of the really stupid decisions they've made in the past.
“In the United States, the share of market income captured by the richest 10 percent surged from around 30 percent in 1980 to 48 percent by 2012, while the share of the richest 1 percent increased from 8 percent to 19 percent."
According to the International Monetary Fund income is "captured". Not produced, earned or generated. Captured. Apparently income is like rain. It just happens. And if you have a really big bucket or a tarp you can capture more of it as it falls than others can.
I have a question for the IMF. Steve Jobs and Bill Gates were two of the wealthiest people in the world. How exactly did they "capture" all that wealth? Did they hold a gun to the heads of the public and force them to buy iPhones and Xboxes? I vaguely recall people sleeping on sidewalks to be able to purchase them early.
The ignorance of the International Monetary Fund is simply breathtaking -- and probably helps to explain some of the really stupid decisions they've made in the past.
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