Wednesday, March 16, 2011

Reynolds’ Law

Reynolds’ Law: “Subsidizing the markers of status doesn’t produce the character traits that result in that status; it undermines them.” It’s easy to see why. If people don’t need to defer gratification, work hard, etc., in order to achieve the status they desire, they’ll be less inclined to do those things. The greater the government subsidy, the greater the effect, and the more net harm produced.

The original post on Instapundit is here:

You might say it's a classic instance of the Law of Unintended Consequences, which applies to most government actions.

Posted via email from The Blue Pelican

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