As Armstrong has written, the greater the size of government, the lower the production of national wealth. When the government grows in size and scope, it must increasingly rely on statistical tricks to match national income levels produced from the once dominant private sector. Communism, Socialism, and Fascism have all taught us this lesson, but a lesson ignored is history destined to be repeated.
“Politicians have talked a lot about layoffs during this recession,” writes Bloomberg columnist Joe Mysak.
“In most cases, that talk is an empty threat. Nobody wants to fire teachers, or firemen, or policemen, in the name of efficiency or good government.”
Source:
moneynews.com
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