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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Psycho-Social who wrote (35013)2/28/2002 5:42:05 PM
From: Steve Lee  Read Replies (1) of 99280
 
"a government worker's $ is worth just as much as that of a private sector employee."

No it isn't. A government worker is spending other people's money. That means he doesn't have to think too carefully about what he is buying. It is called misallocation of capital and is a hallmark of govt intervention. At one extreme is communism, at the other is anarchy. The sweet spot is somewhere in between.

If govt is spending for the sake of bringing GDP numbers up, and spending in an environment of existing overcapacity, then it would be a good guess that we are moving away from the sweet spot.

Plus, if the govt is in debt, which it is, that govt worker's dollar has to be repaid at somepoint, which means a dollar plus interest has to be taken out of the economy in the future.
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