Monday, March 5, 2012

Salaries: Dim Light, Long Tunnel by Gary North

Salaries: Dim Light, Long Tunnel by Gary North: CONCLUSION

Nothing is working. The annual deficits are at $1.3 trillion. There is no sign of relief. The job market is in the pits. The Establishment economists' explanations no longer explain the persistence of the problems. The Keynesians call for more government. Europe is moving into recession. Another war looms in the Middle East. If oil goes to $150 or more after an attack on Iran, the world economy will head back into recession.

The Establishment got us into the mess. It is unable to get us out.

This creates opportunities for rival explanations with rival solutions.

The best explanation is Adam Smith's: too much government. The solution is laissez faire.

The problem is convincing voters, half of which are recipients of government payments.

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