Tuesday, September 28, 2010

In a Nutshell

Over at Yves' place, Marshall Auerback nails it.
To wit:
...If that trend persists, then we do end up being like Greece. Not because of growing national insolvency, but more because our citizenry begins to view the government as a piggy bank to be exploited, rather than an instrument which mobilizes national resources for broader public purpose. Absent this political authority, everything begins to break down.

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