Anybody with any knowledge of economics should feel uneasy at the sight of a country where half of recorded economic activity is conducted by the state. Are such semi-socialist societies operable, and if so, for how long?
Read the article via Deceits and delusions – Some thoughts on the euro-crisis and democracy.
Here’s the growth of the British Government to over half of GDP:
We can escape this mess towards sustainable prosperity, but that escape will require substantial reforms towards sound institutions of social cooperation: honest money, strong property rights, freedom to contract, an end to trade barriers and lower, simpler taxes.
Tags: Detlev Schlichter, economics, Financial Crisis, Government, Liberty, Prosperity, Statism, Tax