Wednesday, April 04, 2007

NJ Pension Fund Shenanigans

Imagine if any business were to practice this type of behavior. The government and the public would call for their necks -- and probably get them. Yet no such calls go forth when the actors are government bureaucrats.

As far as I can tell, no one's ever answered the question of why people should be considered evil, incompetent and requiring oversight if engaged in private business, but beyond question if working for the government. If anything it should be the opposite as market forces tend to ensure competence, while lack of accountability encourages incompetence and fraud.

The sad truth is that under altruism results don't matter, only motivation counts. So private businessmen who are pursuing their own values are evil by definition while conversely every bureaucrat can simply wave his "for the public good" wand to avoid any further questions.

To right this wrong requires nothing less than challenging the morality of altruism.

1 Comments:

Blogger Roderick said...

Thanks for bringing this issue up. It should be discussed more, and it must if we are to stop the slow crawl towards more government interference in Economics.

9:57 PM  

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