We Have the Formula Backwards….We Must Create Not Regulate

I can’t say this any better than he does, so I won’t even try:

“We have forgotten what wealth is — and how tenuous the good life is. Riches are created by educated and skilled workers who directly translate natural resources into commodities that make life easier. The nonproductive sector in government, law and banking must facilitate that process with efficient and transparent financial and political systems.

Instead, we are failing to provide our college graduates with unique skills that make them rare assets in the global competitive arena. Meanwhile, our more talented and better-trained workers are suing, subsidizing and regulating more than ever — instead of searching for more oil and gas, supplying more water to productive farmland, fast-tracking nuclear power plants, manufacturing machines and consumer goods, or devising new and more efficient ways to help others to produce such food, fuel and products. In other words, we are living the good life in the abstract that we have not quite earned in the concrete.”

http://www.realclearpolitics.com/articles/2011/02/04/bubbles_bubbles_everywhere_108782.html

The simple fact is that government, law and banking are growing, while the productive economy is shrinking.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s