Thursday, July 28, 2011

Eating our seed corn

What is the number one thing the government can do for the economy? Invest in public goods for decades. That the message of the book Success in Agricultural Transformation, coming out at the end of August. It turns out that 100% of the time sustained public investment has been necessary to create a modern economy—across all countries, across all of history, from the English industrial revolution on.

What is the government now proposing to do? Cut public investment. As Ezra Klein documents this disaster for our future is what Obama is proposing, and the RepubliCON are proposing to hurt us far worse. This is how the USA declines. Sad day.

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