The Republicans' new YouCut Web site crowdsources the work of restoring fiscal sanity to the federal budget

by CynthiaYockey on May 30, 2010

One of the most wonderful points economist Friedrich Hayek made in his book explaining how liberal/socialist policies are The Road to Serfdom is that under capitalism the market crowdsources how to solve economic challenges by allowing millions of people use their intelligence and ambition to solve the problems in front of them with great specifity. In contrast, the handful of smart bureaucrats that liberalism and socialism assert will keep order in human economic affairs simply do not have the omniscience and omnipotence required to do the job, with the result that they quickly stagnate any economy they control and resort to totalitarianism to maintain their power.

Well, Republicans are now applying the genius of crowdsourcing to restore sanity to the federal budget through a Web site called YouCut. At YouCut you can submit your ideas for how to save money or make cuts in the federal budget. You also can vote on which of five programs you favor cutting — these are rotated periodically.

Perhaps because more people are now familiar with the paradigm of crowdsourcing, they will be able to see the same paradigm at work in capitalist economies allowing them to flourish and that socialist economies stagnate because fewer people are working on the solutions to the problems, and that they are not only at a significant remove from the pain of the problem but also from the rewards of solving it, thus greatly diminishing the amount of intelligence, urgency and zeal they apply to their duties.

H/T Hot Air Headlines.

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