A manda­tory test for politi­cians

Prairie Post (East Edition) - - Opinion - DALE FERREL

What a bet­ter world we would have, if all politi­cians were sub­ject to a min­i­mum 70% mark on an eco­nomics exam ‘be­fore” they could run for of­fice. Item num­ber one, com­pletely read Sylvia Nasar’s book ti­tled “Grand Pur­suit.” Therein, are many crit­i­cal jew­els of wis­dom and eco­nomic ge­nius, fo­cused on the more crit­i­cal suc­cess of eco­nomic in­tel­li­gence vs. ter­ri­tory, pop­u­la­tion, nat­u­ral re­sources and tech­ni­cal lead­er­ship.

Eco­nomics, ac­cord­ing to Mar­shall and Keynes, used as an engine of anal­y­sis, has done more to trans­form the world, than the steam engine; even if less per­ma­nent than math­e­mat­i­cal truths.

While in­fla­tion can up­lift short term out­put, long erm gains gen­er­ate long term pro­duc­tiv­ity, driv­ing up wages and liv­ing stan­dards. A sta­ble cur­rency, ed­u­ca­tion and a safety net will gen­er­ate in­no­va­tion.

Mad men like Hitler, Stalin and Mao tried to sup­press eco­nomic truths. They, and many oth­ers failed ev­ery time, mostly be­cause they su­pressed en­trepreneur­ship. All left lean­ing fa­nat­ics could be jerked back to re­al­ity if they too ab­sorbed the wis­dom of eco­nomic in­tel­li­gence.

The exam could be made up by a group of 5 economists with PHD.s and an­swers could be reg­u­larly changed to pre­vent an­swer pla­gia­rism.

I pro­pose that those earn­ing their right of pas­sage would have to be re-tested ev­ery five years and would also sign an oath never to con­tra­vene the ba­sics of eco­nomics with­out ten­der­ing their res­ig­na­tion. An exam fail­ure would bar an ap­pli­cant from par­tic­i­pat­ing in elec­tions to gov­ern at the fed­eral and pro­vin­cial level for 4 years, af­ter which they could write the exam again.

The exam, with ex­cerpts from Joseph Alois Schum­peter’s “The­ory of Eco­nomic De­vel­op­ment” would in­clude top­ics like less ter­ri­to­rial am­bi­tion, strong prop­erty rights, favourable busi­ness cli­mates and sta­ble prices. Also free trade, mod­er­ate taxes and con­sis­tent reg­u­la­tions would be in­cluded.

Imag­ine the an­ti­do­tal ben­e­fit of gov­ern­ments ac­tu­ally work­ing for the peo­ple. And with­out end­less debt, pa­tron­age, waste, bro­ken prom­ises and out­right lies.

Our next elec­tion(s) should in­clude a ref­er­en­dum on whether to in­sti­tute the exam. If only 30% of vot­ers can elect a ma­jor­ity gov­ern­ment, than 51% should be able to force all politi­cians to abide by the exam and oath rules!

If such an im­po­si­tion was now in place, we would not be suf­fer­ing from the mul­ti­tude of con­temptible drivel from the com­pla­cent Lib­eral, dotty, dorks, derelict to the hilt, that have left us lan­guish­ing at ev­ery turn. Time they gov­erned for us in­stead of just for them­selves and their close friends!

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