On Wed, Nov 7, 2012 at 12:25 PM, Wayne Bishop <firstname.lastname@example.org> wrote: > I personally believe that it is a disaster...Think the US right behind my state of California right > behind the glories of modern Greece. >
Think instead the glories of modern Norway and Scandinavia in general IF this country had the guts to go there:
Per capita, the US is not the world's richest nation - for every year of the past many decades, in fact. For every year of the past many decades, most of the countries of socialist-capitalist northern Europe have had larger per capita nominal GDPs - and more upward income mobility with the percentages of their populations being entrepreneurs ever higher than the US. See some of the most recent data on this:
The US now has only half the percentage in 1977 of its population being entrepreneurs. Because of regulations taken off the banks starting with Reagan in the 1980s and ending in the 1999 repeal of the Glass-Steagall Act, entrepreneurial democracy is quickly getting to the point of no longer existing in the US (without these regulations, the banks can now make more money more quickly more easily doing something else than lending it to ordinary people to start or expand keep going a small business). It exists much more in other countries - see the below on Norway, the richest country in the world per capita outside of some very small countries with *citizen* populations of no more than a few hundred thousand - most much less.
And roughly in 1990 Norway (the most socialist of these socialist-capitalist countries) blew right past the US in per capita PPP GDP and on average has been pulling away ever since. (It's nominal per capita GDP is now twice as large as that of the US.). On Norway: