Opinion: For economic lessons, read children's fairy tales and ignore socialist ones, writes George Melloan
‘The sky is falling!” warned Chicken Little. The Little Red Hen was made of sturdier stuff. You could make a case that she invented supply-side economics, which is based on the premise that you gotta work if you wanna eat—in more formal terms, that production necessarily precedes consumption.
The Little Red Hen found a grain of wheat and somehow managed to grow a crop, asking her fellow creatures if they’d like to help with the planting, the cultivation, the harvest, the grinding of the flour and the baking of the bread. They...
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