HBonBdway

Air Pollution and Inflation are the Same Issue

Professor Jonathan Haidt gave a TED talk about four “asteroids” hurtling toward earth, two of which liberals saw but conservatives didn’t, and another two which conservatives saw but liberals didn’t. It showed the blind spots of those ideologies. There is another blind spot that I have noticed, one we might call the broken window blind spot, about that which is seen and that which is not seen by liberals and conservatives.

Take air pollution. A new factory with a smoke stack is built. It belches out smoke. Liberals hate that. They can easily see that this causes problems. Every smokestack reduces the air quality - the breathing power of people. It is true that one smokestack does not affect the breathing-power of people that much, but as more and more such factories are built, the particulates in the air accumulate. Over time, we get significant reductions in breathing power. Liberals tend to see this quite clearly, but conservatives tend to deny that which is not seen. (This example could have been about CO2 and global warming, but let’s not go there.)

Now let’s look at inflation. A new government program is passed. It costs money. Conservatives hate that. They can easily see that this causes problems, since the government has to create fiat money to pay for its programs. (Taxation doesn’t pay for them; there would be no government debt or deficits if it did.) Every government program causes monetary inflation, that is, reduces buying power. It is true that one program does not affect the buying-power of people that much, but as more and more programs are funded the monetary inflation accumulates. Over time, we get significant reductions in buying power. Conservatives tend to see this quite clearly, but liberals tend to deny that which is not seen.(This example could have been about government welfare and resulting pauperization, but let’s not go there.)

In the former example, liberals see the long term accumulated effects, but conservatives are blind to them. In the latter example, it is conservatives that see the long-term effects and liberals who are blind. Weird, isn’t it? At least libertarians can see both.