Monty Pelerin's World

Economics, Finance and Politics Through The Prism of Classical Liberalism

Big Government Means Poorer People

“By one measure, the government already plays an outsize role in our so-called free-market economy—and it has little to do with the recession. Economist Gary Shilling has calculated that 58 percent of the population is dependent on the government for “major parts of their income” including teachers, soldiers, bureaucrats, and other government employees; welfare and Social Security recipients; government pensioners; public housing beneficiaries; and people who work for government contractors. By 2018, Shilling estimates, an astounding 67 percent of Americans could be dependent on the government for their livelihood. The implications aren’t comforting.”

The shocking quote above is from an article by Rick Newman.

Bigger government

Continue reading Big Government Means Poorer People