The Decline of Innovation and Economic Growth | Robert J. Gordon - WSJ.com
Lets just say liberalism and attempts at social equality, big government, high taxes and regulations, etc. are inhibiting factors. By the end of the 1970's, liberals were all arguing that growth was also gone and that the focus of policy should be equitable redistribution.
Reagan's policies changed that - but, of course, liberals hate the free market and private capital.
We now again have White House policies that are anti-business, pro-union, big government, high taxes on the productive sectors, etc.
Per Art Laffer's comments on the 1930's, we are repeating both the policies and the outcomes that the writer of this article excuses by other means.
Let's hope the young say "enough-is-enough" (both in the US and Europe) and stop the transfers of wealth to the middle-aged and retired who want more than they saved for and contributed to.
The young are being left with huge debts for the consumption of non-productive members of society. If the young want to sacrifice their lives for the older parts of the population, well then, so-be-it. But, they don't have to and they should wake up what is being done to them!
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