The Robin Hood Syndrome consists in ” taking money from the rich and giving it to the poor.” A New York Times editorial entitled, The crisis has ended nearly two decades of wealth ( June 13, 2012), states exactly that: ” What’s needed now is even more support, including federal spending on education and public-works projects to create jobs, targeted tax credits for hiring, programs to promote mortgage relief that supports house prices by keeping Americans in their homes, as well as a renewed commitment to financial regulation to ensure that the system doesn’t melt down again.”
The question is: Where is the money going to come from? Obviously, from increased taxation of the “rich” and from sapping the productive members of the economy, from the working power of people. The next question is: how long and how much money will it take to improve the economy? The answer is that since money does not grow on trees, there is a finite amount of money that the rich and the productive sector can supply and sooner or later this money supply will run out. Moreover, from past and current experience it has been shown that this method of solving economic problems does not work. It’s like throwing good money after bad.
Why then do liberal politicians and economists steadfastly hold on to this destructive idea? It is because they have no understanding that wealth, economic prosperity and “doing good deeds” to bring them about, can not simply be equated with money. This ideological bias of liberals and others is deeply embedded in the superficial layer of people’s armored character and therefore is not open to being questioned. It is a defense originating against recognizing that the true value of wealth and money comes from the capacity of people to work productively, from the rational work function of human beings that originates from the depths of their biological core. Having little or no contact with their biological core, they cannot know that money has no value in itself and that its value is derived from the capacity of human beings to do productive work in a free marketplace. See my blog, “Why Stimulus Packages do not Work, May 20, 2012.
Since federal spending does absolutely nothing to improve people’s work function, it can do nothing to improve economic conditions in America which are the result of people’s helplessness and incapacity to work for what they want or feel they deserve to have. These are the real reasons for all the economic problems that we are currently facing.