Re: The economy explained in 2 min. 35 sec.
Jerry Pournelle comments:
But my problem doesn't seem to be that Bill Gates is too rich, and it doesn't seem to be that we are not spending enough money on education and government. The money is being spent. We are paying for good schools. We are paying for good roads. We are paying a lot more now than we were when we had good schools and good roads.
Moreover, there are a lot more government workers now, most of them better paid than the average middle class American. Surely there are enough to give us good schools? And we have known how to fix roads for a long time, and did so for decades with fewer workers at a time when our technology wasn't as good.
All of which leads me to suspect that throwing more money into government services - which always means paying more to government workers and hiring more government workers and in general expanding government - won't get me better schools or better roads.