Friday, November 12, 2010
Why gdp is misleading and why I’m begining to understand gold?
Amongst the generalities untested assumptions and half truths, this programme made a terrifying point. The public sector being a monopoly tends to beget itself, growing (and in fact having grown) forever bigger. Eventually it is so big ie the majority of the electorate are employed under its umbrella, at which point it can never be cut down to size. There are, we were told 7.5 million public sector workers, of which the poster children for the state, eg nurses, police etc, the front line services, make up only 2 million. The public sector is bigger than the private sector. Then there are those unemployed and on benefits but effectively paid by the state, and we were told that benefits last year were in excess of income tax. There is more but I've run out of space.