The apocalypse of the welfare state

Indeed the causes of the crisis are simple, and easy to understand. The governments of modern countries have made it their mandate and mission to fulfill everyone’s desires. Seeking to maintain their entire populations in a cushy lifestyle, they spend way too much, much more than they can afford, generating greater and greater debt, until finally they trap themselves in what economist Robert Samuelson calls “The Welfare State’s Death Spiral.”

Posted by Lawrence Auster at May 10, 2010 03:57 PM | Send