The more government taxes, regulates and spends to redistribute resources around and through the welfare-state daisy chain, the less society produces and the more citizens are dissatisfied with their plight in life. Personal preferences are displaced by irrational collective preferences, which pretend to serve the greater good.Caught in the throes of its redistributive delirium, the welfare state redistributes more and more of less and less until driven to its ultimate lunacy, it leaves everyone sharing equally in the misery it creates. (For the complete article in Forbes click here)
I saw redistribution of income in Italy. The end result is an oligarchic social model with the government being the puppet of few power groups and a sluggish economy.
Unfortunately no one knows the answer to the issue of social fairness. The rich will always be rich. The poor will always be poor.
The only solution is a highly educated society. Unfortunately only the rich can afford one. This is the reason they will always be rich.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked second best gold timer by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
Disclaimer.The content on this site is provided as general information only and should not be taken as investment advice nor is it a recommendation to buy or sell any financial instrument. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.
No comments:
Post a Comment