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Politics : Formerly About Advanced Micro Devices
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Tenchusatsu
TideGlider
To: Tenchusatsu who wrote (748443)10/22/2013 8:01:33 AM
From: RetiredNow2 Recommendations   of 1573221
 
Exactly, but there is also something more pernicious going on here. In economic history, it is a fact that private enterprise will always, over the long run, allocate capital in a way that maximizes the reward to risk ratio projects and economic growth. The government has no incentive to do that and always ends up spending far too much and getting far too little benefit for their expenditures. Not only that, but they must marshall the vast police power of the government to enforce an economic regime in which 50% of the population does not want to participate. This means a lurch towards less Freedom and more of a police state.

This is the thing most Americans think can't happen here and they'd be wrong. An Entitlement society leads to loss of Freedom and eventually a Dictatorship, Fascism, or Oligarchy. History is clear on these things and the Austrian school of economics will point this out. The Keynesians live in a world where there are no consequences for profligacy and monetary debasement. Quite simply, this is an irresponsible economic policy and Keynesianism was already debunked multiple times in economic history, but somehow once again with under-educated Americans' full throated support, it has risen again in the US.
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