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thymelessOn the political front, there's a recent Op-Ed from the New York Times that I think everyone should read. I say this even though I strongly disagree with the writer's conclusions--my conclusions, and indeed the underpinnings of my political philosophy, are almost the opposite. But the piece really does lay out the choices, and ask the right questions. You can find it here.
Though, do take it with a grain of salt. He completely ignores what government spending provides, who benefits, etc. I would argue that government can provide things that the private sector and "the market" cannot, and at much lower costs. There is a reason that governments have spent more as civilizations have become wealthier, even as a share of a country's income. Basically, the more we have, the more things there are--starting at roads, a legal system, and schools, all the way on up to universities, health care, and environmental quality--that become worthwhile purchases for society as a whole. Note that consumption of private goods (by which I mean not public goods) is not generally lower in these countries today than it was when governments were smaller. Society was just poorer.
Though, do take it with a grain of salt. He completely ignores what government spending provides, who benefits, etc. I would argue that government can provide things that the private sector and "the market" cannot, and at much lower costs. There is a reason that governments have spent more as civilizations have become wealthier, even as a share of a country's income. Basically, the more we have, the more things there are--starting at roads, a legal system, and schools, all the way on up to universities, health care, and environmental quality--that become worthwhile purchases for society as a whole. Note that consumption of private goods (by which I mean not public goods) is not generally lower in these countries today than it was when governments were smaller. Society was just poorer.