the staff of the Ridgewood blog
Ridgewood NJ, The Biden-Harris Administration has recently provided a clear example of what many have been warning about for over a year: a significant portion of the new jobs created since the pandemic lockdowns are the direct result of government spending and hiring. This revelation underscores a critical issue—much of the economic growth being touted is fueled not by organic market forces, but by massive government intervention.
This situation brings to mind the teachings of one of our favorite economists, Frederic Bastiat, who wrote over 175 years ago about the distinction between “That Which Is Seen, and That Which Is Not Seen.” Bastiat observed that every economic action generates not just one effect, but a series of effects. The immediate, visible effects are often all that is considered, while the secondary, often unseen consequences are ignored. This is where the difference between good and bad economic policy becomes apparent: a bad economist focuses only on the visible effect, while a good economist considers both the seen and the unseen.
Unfortunately, the economic strategists in the Biden Administration seem to miss this point. They don’t seem to understand that the $300 billion they’ve redirected from families and businesses might have generated far more jobs and economic growth had it been left in the private sector, rather than being funneled into government projects like windmills and other “green energy” initiatives.
Consider this: before the government spent tens of billions on “green energy” projects, America sourced about 80% of its energy from fossil fuels. Today, after all that spending, we still get 80% of our energy from fossil fuels. This illustrates a fundamental truth—bad investments, particularly those made with taxpayer money, can be far worse than making no investment at all.
It’s time to rethink how taxpayer dollars are being used and to consider the unseen effects of government spending. The private sector, left to its own devices, might just surprise us with how effectively it can create jobs and drive economic growth.
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