Greece and America: the welfare state is to blame

Posted by George Leef at 11:21 AM

In this column Sheldon Richman argues that the financial crisis that has hit Greece and the one that is looming over the US stems from the inherent instability of the welfare state. Once the state gets into the business of handing out money, democratic politics ensures that the tax consumers will eventually devour the tax payers (those who produce goods and services). Political scoundrels can win office on the redistribution platform for a long time, but eventually the goose and lays the golden eggs will die.

» Return to posts for March 10, 2010

» Return to the Locker Room