Your Punishment For Believing Lies

Download PDF Version                                                       October 24, 2018

I have a saying. When a lie is told, there are two guilty parties. There is the liar of course. Then there is the party for whom the truth is not good enough.  Without that arrangement few lies would be told.

The punishment for believing lies is suffering.  Suffering always follows the believing of lies but the suffering is not distributed evenly among believers. It is possible for a person go a full lifetime believing a slew of lies and never experience any meaningful suffering. This is especially true where collective issues are present. Generation one may believe the lie but it may be the next generation which does the suffering.

There is a cost to believing lies. The day the bill comes due is highly variable. For many, the bill for believing lies comes due only once or twice in a lifetime. This is the nature of the bill citizens around the world are being served at this very moment.

The lie of stimulus was introduced in the 1930s. John Maynard Keynes came up with his general theory honestly. He was not trying to hurt anyone. In just a little time, flaws in the theory were noticed. Keynes noticed them himself but then died. Monetary stimulus evolved by a different route but had been debunked or at least observed to work very poorly long before the modern era. Stimulus was reborn in the Reagan administration as a way to get self serving legislation passed and to transfer wealth.

The ostensible purpose of stimulus was and always is to benefit the economy. Following the passage of the Full Employment Act of 1978 stimulus became an every year phenomenon. There has never been a chance that government stimulus of an economy would be of benefit. Yet, Americans of every socioeconomic class have chosen to believe stimulus was good and necessary.

The two major ways stimulus destroys an economy are through preventing markets from clearing and by replacing price as the means of rationing goods and services. Economic intervention did not begin in 2008 with the financial crisis. Intervention has been ongoing since the Reagan administration. We have had right at 40 years of economic intervention. That means something other than price has been used to ration resources for 40 years. It also means the process of out with the old and in with the new has been displaced. A mis-allocation of resources is not visible to the eye but it is there. 40 years of making less than optimum use of the country’s resources guarantees an economic crisis.

For 40 years Americans have believed the lie that stimulus benefited them and the overall economy.consciousness.

The truth is a hard sell. Fantasy Free Economics gains readers one at a time. Major search engines simply do not list blogs which disagree with their political agenda. As long as folks share the link to this blog and others speaking out against the grain, the truth will at least trickle into the public consciousness.


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About Fantasy Free Economics

James Quillian is an independent scholar,free market economist, teacher of natural law, teacher and originator of the Fantasy Free approach to economics. James Quillian does not believe lies. Contact:
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[…] Earlier Article Explaining Public Culpability: Your Punishment For Believing Lies […]

2 years ago

Liked this piece. One of my all time favorite reads was “Telling Lies” by Paul Ekman. A fascinating and enlightening book- it even delves into the reasons that targets believe the lies. They’d rather not know the truth and often- they reap what they helped sow.

D. J.
D. J.
2 years ago

It truly befuddles me that liars are in effect SUPPORTED by those who believe them. I have been lied to by a relative (runs a supply business), who convinced me that he had his finances in control. I lent him 10% of my net worth. It took 25 plus years to get my principle back. IT WAS PAINFUL.

2 years ago

Buy Bitcoin

Rodney Houston
Rodney Houston
3 years ago

How true.