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

Jim Lindgren, writing at the lawblog The Volokh Conspiracy:[*1]

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[*2] which argued for a global one-child policy to “save the planet” or whatever.