Monday, August 15, 2011

Just Bad Luck

On the campaign trail in Iowa, Obama says:
"We had reversed the recession, avoided a depression, gotten the economy moving again," Obama told a crowd in Decorah, Iowa. "But over the last six months we've had a run of bad luck." Obama listed three events overseas -- the Arab Spring uprisings, the tsunami in Japan, and the European debt crises -- which set the economy back.
How the Arab uprisings hurt the economy isn't quite clear to me, but be that as it may, recall Heinlein wrote in 1973:
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded- here and there, now and then- are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.This is known as "bad luck."
UPDATE: Great minds thinking alike? Surely independently, Instapundit posted the exact same juxtaposition exactly one hour after I did!
Posted at 10:00 pm by Glenn Reynolds


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