Greek protesters: Ready to face reality about the debt crisis?
Your only reasonable course of action, then, is to work harder, save more, and adopt wiser public policies that promote wealth creation. Chief among these policy changes is to reject the socialism that you have been infatuated with for too long now. You need greater respect for private property. You need entrepreneurship. You need competition. In short, you need free markets. Without these, you will never become more prosperous.
What rock did this professor of economics crawl out from under? He certainly doesn't sound like a mainstream economist. He doesn't sound like any economists that are currently working for the federal government, or even any economists with any association with the federal government.
Reject Socialism:
Barack Hussein Obama, our socialist-in-chief, who was born and raised a socialist does not agree. Barack Hussein Obama has appointed more socialist czars and commissars than Russia had before its' collapse. Barack Hussein Obama is always working on new legislation to help spread the
Respect Private Property:
The United States has no respect for private property. Try not paying your taxes. You will quickly find out that you don't really own your property. Want to build something on the land you think you own? Try getting approval from the ranks upon ranks of bureaucrats who must approve of what you do on your own land. Ever hear of "eminent domain"? This means the government has the right to take your property from you, at any time, for any reason.
Entrepreneurship:
Try starting a business. If you have ever tried to start or run a business, you will soon encounter a myriad of conflicting federal, state and local laws you must navigate to start or run a business. And let us not forget the myriad of federal, state and local taxes you must pay to start or run a business. There is no place for entrepreneurship in the current business world. You need to be a bureaucrat to even have a small hope of dealing with the red tape.
Competition:
Not for work. Unions prevent non-union people from working in any field where unions exist. Doctors, lawyers, ... all have regulatory agencies designed to limit the number of people allowed to work in that field.
Competition:
Not for businesses. Just look at the myriad of federal, state and local laws. Many of them contradictory. All of them enforced by some form of government or other regulatory agency.
Free Markets:
Not on the international level. Most governments are busy passing laws trying to protect inefficient businesses from being driven bankrupt by more efficient foreign competitors.
Free Markets:
Not on the local level. For every person who wants to start a business, there is some regulatory agency that doesn't want them to start a business. And if that person is foolish enough to actually start a business, then the regulatory agencies will swoop down to close the business if it doesn't follow to the letter, all the rules and regulations that the government can think up to put in the path of any business that wants to be successful.
Conclusion:
So while this economics professor may not be willing to say that his opinion about Greece applies equally to the United States, any of us less well indoctrinated in socialism find the similarities all too scary.
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