Much has been said about the prospects of an Obama presidency and the threshold it represents in the US' political economic evolution. IF Obama's policies do move the US towards a more collectivist future, is it necessarily a bad thing? Do developed economies necessarily have to evolve to a more collectivist solution?
Let's take Europe's experience for example.
Plus side: Socialized health care. Welfare/unemployment/vacation/job protection benefits.
Negative side: Higher unemployment. Lower GDP growth. Higher taxes. Sometimes erratic delivery of 'guaranteed' services
Let's take Europe's experience for example.
Plus side: Socialized health care. Welfare/unemployment/vacation/job protection benefits.
Negative side: Higher unemployment. Lower GDP growth. Higher taxes. Sometimes erratic delivery of 'guaranteed' services