Here’s an interesting article on the economic future of China.
China may or may not be of interest to you, however, so that’s not what I’m writing about.
Here is a quick encapsulation of the author’s view on the historical requirements to join the top ranks of countries in living standards:
- Limited government interference in economic decision making.
- Equal application of the rule of law.
- A small government to avoid waste and rent seeking.
- Low rates of taxation and other burdens on achievement, and free international trade with other countries.
According to him, “There have been no historical exceptions to the[se] requirements…”
Of course, the corollary would be this:
If you want to lower your country FROM the top living standards, you should have the opposite of the above requirements:
- Unlimited government interference in economic decision making
- Unequal application of the rule of law
- A large government to ensure waste and rent seeking
- High rates of taxation and other burdens on achievement, and declining free international trade with other countries.
In other words, the Democrat political platform.
And now you can see why I’m posting this article.
And why I continue to post that Democrats simply don’t care about the future as they have no kids with whom to burden the costs of their incredibly stupid ideology that is destroying, with historically un-heard-of rapidity, America, capitalism, freedom, liberty, wealth, the rule of law… and reverting to an autocracy with nukes.