Oh dear, this is all so familiar. Socialism, we used to say, does not work in any way: economic, social or ethical. Ah yes, they would reply, that is because there is not enough socialism. We must have more. We hear the same about the EU - the reason the European project is failing and not delivering the promised attractions is because there is not enough of it. So, President Obama's stimulus package failed miserably and there are plans to shell out more of the taxpayers' money on another package. Here is Dan Mitchell of Cato Institute explaining why and how it failed. He may be talking about the US but it is horribly relevant to us.