Something for Nothing? No Way!
Dr. Walter E. Williams, an economist at George Mason University uses his weekly column at Townhall.com to explain “that we live in a world of scarcity and everything has a cost . . . (because) “Scarcity exists whenever human wants exceed the means to satisfy those wants.” However, he also explains that it’s probably “the most difficult economic lesson.”
It’s a short column, but worth the read. Here’s the lesson, however, which he applies to Social Security:
“The vision of getting something for nothing, or getting something that someone else has to pay for, explains why so many Americans are duped by politicians.”
Something to remember when listening to political ads this fall.