The next piece by conservative economist Stephen King, a very pessimistic one, believes we are already in the end times of Western prosperity. He argues that both stimulus proponents and austerity proponents are wrong about offering a way out of the Great Recession. Among other things, to effectively manage the end of high prosperity King argues that we have to be dedicated to continuous whittling away at the deficit and to stop "cannibalizing" younger generations to sustain high entitlements for older generations. nytimes/2013/10/07/opinion/when-wealth-disappears.html?pagewanted=1&ref=todayspaper
Posted on: Tue, 08 Oct 2013 12:25:43 +0000