Thursday, December 31, 2009

America's Decade of Decline

Looking back at the first ten years of the new millennium. (Via Joshua Snyder) Share

1 comment:

Julygirl said...

Good article, but no solutions. There is a belief that government can create wealth. It can't. It can redistribute wealth, but it can't create it as a private sector can. Stimulus programs can be compared to using a pail to move water from one end of a pool to another. This is how wealth is produced; individuals seek to meet their own needs by meeting the needs and wants of others. They create businesses that produce innovations and in the process create economic growth. There are greedy individuals in a free market society (as well as other societies), but the failure of the free market was the result of bad government actions. The two greatest economic disasters of the 20th century...the Great Depression of the 1930's and the Great Inflation of the 1970's were the result of the catastrophic government mistakes, not a sudden failure of free-market capitalism.