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<blockquote data-quote="henschman" data-source="post: 2090207" data-attributes="member: 4235">But how much would that money have produced for its owners if it had not been seized by the state and spent on arts?&nbsp; It is likely that it would have produced an even greater return... but we will never know.&nbsp; This is the fallacious argument always raised in defense of subsidies.&nbsp; It never takes into account what would have happened if the resources were allocated to the things the owners thought were the most efficient uses, instead of the bureaucrats&#039; pet projects; the investments, goods, structures, and business ventures that were never allowed to exist because of government intervention.&nbsp; Speaking of gov&#039;t schools, Frederic Bastiat&#039;s treatise &quot;What is Seen and What is Not Seen&quot; should be required reading as long as we are going to have such institutions.&nbsp;And plus I doubt those numbers are correct about how many dollars would be lost, as they are basing their projections on the entire Oklahoma art industry ceasing to be; which is not even close to what will happen if subsidies are ended.</blockquote>

[QUOTE="henschman, post: 2090207, member: 4235"] But how much would that money have produced for its owners if it had not been seized by the state and spent on arts? It is likely that it would have produced an even greater return... but we will never know. This is the fallacious argument always raised in defense of subsidies. It never takes into account what would have happened if the resources were allocated to the things the owners thought were the most efficient uses, instead of the bureaucrats' pet projects; the investments, goods, structures, and business ventures that were never allowed to exist because of government intervention. Speaking of gov't schools, Frederic Bastiat's treatise "What is Seen and What is Not Seen" should be required reading as long as we are going to have such institutions. And plus I doubt those numbers are correct about how many dollars would be lost, as they are basing their projections on the entire Oklahoma art industry ceasing to be; which is not even close to what will happen if subsidies are ended. [/QUOTE]

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