Letter: Jobs are not of equal value
To the Editor:
Recently, an opinion was presented implying private sector and government jobs are equally valuable to the economy.
This view shows a profound lack of understanding of economics and the source of a country’s wealth and standard of living of its citizens. While firemen, military, teachers and etc. are important to society they do not produce prosperity or add to the standard of living as private sector jobs do.
For example, the government takes $100,000 and hires government workers. That money remaining in the private sector could have been used to purchase equipment to start a carpentry shop to build, say, tables. The tables are sold, the business expands, more workers are hired, more tables are produced and sold. Wealth is created converting raw materials to useful products. Whole industries are created in just this manner.
This is the road to prosperity not more government spending, borrowing and printing of paper money that devalues the dollar. Believing that government spending can create prosperity is akin to belief in the tooth fairy.
R. Alan Harrop