- Joined
- Jan 2, 2006
- Messages
- 28,174
- Reaction score
- 14,270
- Location
- Boca
- Gender
- Male
- Political Leaning
- Independent
Obama figured he had "checked the economy box" and could now move on to other things while it naturally righted itself. Forgetting, apparently, that taking mass amounts of resources and moving them from more productive allocations to less productive allocations reduces net productivity. woops.
How are you defining productivity? It sounds as though you define it as any action the private sector partakes in, where as any action the government involves itself in is inefficiency. Personally, it sounds like a preconceived notion based entirely on ideology. I will be the first to admit that there are many actions the private sector is more efficient at. The first and most obvious is the ability to maximize profit. In a society such as our own, the entrepreneurial spirit is driven by a persons ability to capitalize on an idea that leads to a successful business plan. However, efficiency of industry is predicated upon competition.
Some aspects of life are incompatible with competition, such as national defense, emergency and police services, maintenance of strategic infrastructure, consumer protections, poverty reduction, etc....
Now there are means of improving efficiency throughout all aspects of both the public and private sector; but to believe that the only path is via profit seeking enterprise is to contradict reality.