on this blog
seriously, I am going to keep this subject going. The more I think about it, the more I realise that:
- banks need serious reform
- they do some really valuable things
- they do some really dangerous things
- the TUC and its merry men, from the best of intentions*, have found the perfect way to screw up the valuable things, leave the dangerous things less well supported, and ruin a great opportunity to make things better.
Sometimes, just because the people from the Adam Smith Institute believe something, it doesn’t mean its wrong. Sometimes.
I think Nick Rowe, that wonderful Canadian, has hit on a similar problem in this post. Tax analysis is about both efficiency and justice. Some people, though, seem so obsessed with the justice angle that they remain determined to shoe-horn the efficiency side into agreeing with their views. This is particularly egregious when even the justice side of things is misconceived; your tax isn’t only inefficient for the economy, it doesnt even hit the people you think it’s hitting ….
*well, it surely can’t be for reasons of envy or low populism, surely…