STAFF NEWS & ANALYSIS
Governments Are Authoritarian Monopolies That Cannot Encourage Social Creativity
By Daily Bell Staff – July 11, 2016
Government Holds the Promise of Faster Growth … One of the U.S.’s biggest economic challenges is the slump in productivity. After climbing steadily for many decades, productivity has slowed dramatically since 2011: Productivity is the key to long-term prosperity. It represents a hard ceiling on the amount of valuable things that a society is able to produce. If productivity flatlines, it means that the pie isn’t growing, and there will be less to divide up among us. So finding the cause of the slowdown is a big, important task.-Bloomberg
We almost never agree with Bloomberg’s Noah Smith, but he is habitually provocative.
This editorial is no exception. His point here is that, “Many economists have slowly been warming to the idea that government, far from