Apparently, according to leftists and New Keynesians, being prodigal is a virtue. So if being prodigal is a virtue, what of its opposite? And if Jesus really were a socialist, how different would the parable had been?
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The Parable of the Niggardly Son.
Once upon a time, there was a man who had two sons. One day, he decided it was time to give each of his sons their share of the estate. So he divided all his property between them.
The first son was prodigal, and immediately set about spending his newfound wealth. This greatly pleased his father, as it meant that the resulting increase in GDP would stimulate the economy. But the second son was niggardly. He selfishly liquidated his assets and placed them in sound interest-bearing investments, greedily hoarding his wealth and decreasing aggregate demand through the Paradox of Thrift.
He went out from his home and spent many years away, amassing a great fortune, placing himself in the hated 1%. Until finally, one day, he returned.
As he approached his boyhood home, his father saw him, and ran to him and put his arms around him. The first son, the prodigal son, who initially didn’t realize what was going on having been in the middle of a particularly raucous night of economic stimulus, saw his brother returning, and became angry.
“Father!” he shouted, with a prostitute on each arm. “All these years I have obeyed you! I have given up selfish greed and avoided recession and sticky prices by spending whatever money I could at the time. I have renounced Say’s Law. I have sacrificed greatly by going into debt to help keep enough inflation going to grow the economy. I have given token amounts to the poor so that they may eat for another day. I have obeyed you in all things! But now this son of yours comes home, and you just welcome him, despite the fact that he has forsaken all that you have taught us?” Continue reading