Thursday, November 18, 2010
The Idiot's Guide to the Public Sector that Produces No Wealth
An idiot's guide to the public sector, and how it only consumes wealth generated by the private sector - the public sector produces no wealth for countries. This specific guide is for the UK as it shows some shocking statistics on the imbalances of the UK economy.
Recorded from Channel 4's "Britain's Trillion Pound Horror Story", 11 November 2010.
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The out of control public sector is crippling the UK private sector, and hence the entire UK economy. But still "the state" is expanding, despite cuts.
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Grouch: It's pretty safe to say this same phenomenon is happening today in the US. The government is making its citizen's poorer by consuming more and more of the wealth created by the private sector. How do you fix this situation? Unfortunately the US is on the wrong path with the Government consuming ever increasing levels of GDP.
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How to fix this situation? I don't know, but probably unfixable from within the system. Too many entrenched interests.
ReplyDelete"That whenever any form of government becomes destructive to these ends (life, liberty and the pursuit of happiness), it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security." ~The US Declaration of Independence
ReplyDeleteUnfortunately, I don't think the US citizenry has the cojones ...