Speaking of the US Economy
Interesting column today,
Capitalism in its many variants has been shown, he notes, to be a prodigious generator of wealth. But it will not spring forth magically froma few big industrial projects or cookie-cutter policies imposed by outside experts. It’s culture that nourishes productive policies and behavior.
By and large, nations have either lifted themselves or have stayed down. Societies dominated by tribal, religious, ideological or political values that disparage the qualities needed for broad-based growth will not get growth. Economic success requires a tolerance for change and inequality, some minimum level of trust – an essential for much commerce – and risk-taking.
All of those descriptors are of course an anathema to modern “progressives.”
— The Ace