The Greek city-states in the fourth-century BC, fifth-century AD Rome, and the Western European democracies after World War I all knew they could not continue as usual with their fiscal, social, political, and economic behavior. But all these states and societies feared far more the self-imposed sacrifices that might have saved them. Mid-fifteenth-century Byzantium was […]
Two recent news stories highlight how pernicious the welfare state has become in America today. The first was an announcement by the feds that food stamps can be used to have groceries delivered right to a recipient’s door. Service with a smile. The Obama administration says it is too much of a hardship for those […]
Before the Battle of Chaeronea (338 BC), where Philip II of Macedon prevailed over a common Greek alliance, the city-states had been weakened by years of social and economic turmoil. To read the classical speeches in the Athenian assembly is to learn of the democracy’s constant struggles with declining revenues, insolvency, and expanding entitlements. Rome […]
Europe has become the model for how democratic capitalism can give way to the welfare state. Following a surge of market-driven growth after World War II, there was a rise across the continent in income redistribution and regulations intended to protect workers and consumers, and to achieve “fairness.” From the 1960s onward, high tax rates […]
Donald Trump says Paul Ryan is wrong about Social Security and Medicare. The Republican speaker of the House wants to “knock Medicare way down,” according to Trump, and do the same to Social Security. Trump says this approach would cost Republicans the election, and also be unfair to people who have paid into these programs. […]