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Thought for the day, if-you-thought-Madoff-was-bad edition

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Jim Lindgren, writing at the lawblog The Volokh Conspiracy:

A welfare state is in one sense a big Ponzi scheme. Without increasing numbers of people entering the scheme, there is no money to pay the people receiving the money.


This in reference to a recent editorial in Canada's Financial Post which argued for a global one-child policy to "save the planet" or whatever.