Michael Bloomburg warned of riots in the streets due to the lack of employment for today’s college graduates. His answer:
“The only way you solve this problems is that everybody pays a little more and everybody gets a little less.”
That’s always the answer for socialists, everyone (but those in charge) must suffer for the greater good. No one questions whether mass suffering, mass poverty, is really in the greater good, however.
I’m not calling Bloomburg a socialist, just pointing out that it’s a classic attitude. In the USSR squalor was the norm. Same with Cuba. And Europe… It’s a nice Disneyland fantasy but the facade is crumbling before our eyes. The average income in Sweden is $36,600 — that’s lower than the average income in Mississippi.
The model of everyone suffering for a cause doesn’t work in the long term. In the long term, people grow tired of suffering. People want more. So they either stop working hard and milk the system, or they become government bureaucrats to milk the system, or they become criminals to milk the system, or, if they’re able, they leave. In any case, there’s a lot of milking the system going on, and it happens because the system is so pervasive, as it is becoming in America today and already has become in Europe. And in the process, production falls and wealth is destroyed rather than created. Everyone suffers.
There is another answer. It worked pretty well for America for 200 years. It’s called the free market – a system that provides incentives for people to actually produce things and create wealth.