Today, America is at an extremely critical juncture in our history. We are a prosperous nation on the brink of economic decline. We are currently in the midst of an exceptionally weak recovery, following the worst recession since the Great Depression in the 1930’s. America is following a set of high tax and reckless spending policies that are creating astoundingly-high deficits and unsustainably-high debt levels. Unemployment is very high at 9.6% with the very real possibility it will increase to 11.5% in 2011. The dollar appears to be weakening and might even be abandoned as the reserve currency of the global economy. Gold, a potential safe haven in times of fear is soaring to incredible heights, indicating the sour mood of many people. It looks as if America might be teetering on the verge of a second Great Recession in 2011 or worse. Is the economy really all that bad? Can we do anything about the economy? Let’s talk about it now …
Right now, America’s fiscal policies (tax and spending policies) as well as its monetary policies (interest rates and money supply policies) are hitting the American economy and the checking accounts of Americans. We also see the potential for devaluing the dollar. We are threatened simultaneously with the prospects of both upcoming inflation in many areas of the economy (such as food and energy) plus asset deflation in other areas such as wages, salaries, and housing. It’s an economically stark picture.
Is America destined for economic decline? Certainly not!
Economists have studied economic growth extensively and know what works and what doesn’t. The issue is simple. Will Americans choose economic growth and prosperity? Or, will we choose economic decline and poverty?
In my new book Choosing the Good Life: Two Competing Economic Visions, I shine a bright light on this issue, one of the greatest issues of the 21st century. I discuss the two competing economic vision for the “Good Life,” a life characterized by economic growth, general prosperity, and peace among nations. Most importantly, I outline a roadmap to achieve the Good Life.
Choosing the Good Life Blog by Gerard Francis Lameiro, Ph.D.
