Quote of the Day | 1121
All of these reasons have something in common. They all suggest that economic growth is helpful in preserving the legitimacy of the state. Sustained mass unemployment can generate riots and crime or – remember the 30s – worse. The higher taxes that points 2, 3 and 4 suggest would accompany stagnation would lead others to suddenly discover their inner libertarian, and would intensify distributional conflicts. And the absence of growth would sharpen the question: what the heck is it that governments do for us anyway?
Stumbling and Mumbling, ‘Why governments need growth’
[x]#9476 fan maandag 21 november 2011 @ 17:57:13
