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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (529041)11/15/2009 11:29:18 PM
From: TimF1 Recommendation  Read Replies (1) of 1574848
 
On first principles, why would smaller government create industry and wealth.????

It doesn't. It just doesn't get in the way of the creation of wealth.

Large active government, means that more economic choices are being decided by politics not by the market, which normally reduces the economic efficiency. Also activist governments tend to require lots of paperwork and otherwise create burdens on the creators of wealth. And the extra taxes to pay for it reduces the incentive to create wealth, while it distorts the incentives to cause investment to follow patterns designed to be tax efficient rather than just efficient. At the same time if you have generous social programs you reduce the incentives for the poorly skilled to work.
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