With the “fiscal cliff” mess not solved but merely kicked down the road a few months, it’s a good time to summarize a few points I make in my book, The Financial Crisis and the Free Market Cure. I hope – but do not expect – that our elected representatives learn to take a more broad-thinking approach in their problem solving when they revisit this issue in the coming months. It would be useful for them to have these points in mind (excerpted from chapter 19 “Some Political Cures: Government Policy.”)
In the long term, we cannot consume more than we produce. Our standard of living is fundamentally driven by our ability to produce goods and services that improve our quality of life and the quality of life of those with whom we trade. The question is, how can government policy contribute to the kind of environment in which human productivity is maximized and in which individuals can pursue their personal happiness?
Read more at http://www.cato.org/blog/ceos-advice-congress
No comments:
Post a Comment