David's posts are exactly why I insist that the left must have a moral compass and not the neolib compass of personal gain. It is my moral obligation to provide for my parents/grand parents who not only brought me into this world but raised me, paid for my upbringing and education and for the infrastructure that I now enjoy. But also I have a moral obligation to pay for those who were less fortunate than myself, for whatever reason. I feel a particular obligation to my children and grandchildren to provide them with the education and social capital they need and try to restore the environment to a sustainable condition so that they can enjoy the fruits of nature and human design, and also help to maintain me and our generation at a confortable material and cultural level. Without that moral compass, we are mere beasts, sans humanite! That, to my mind, is the meaning of being 'left'!
Paul Phillips
Eubulides wrote:
----- Original Message ----- From: "David B. Shemano" <[EMAIL PROTECTED]>
Again, to generalize, I distinguish capital investments (roads, schools, bridges, military, etc.) and other types of public goods which have cross-generational benefits. The costs of public goods that have cross-generational benefits should be shared with future generations, which would justify deficit spending. I would not put generational monetary transfers into that category.
David Shemano
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So parents should leave no bequests?
Such is the insidiousness of the comparative statics of neoclassical micro............
