The U.S. Wealth Machine: In Reverse

In times past, North America enriched itself via skilled ex-European workers benefiting from cheap resources, energy, and transport.  Government protected industrialization but otherwise left it alone while encouraging agriculture, mining, and transportation with cheap land.  Opportunity was magnified by the diverse social classes and cultures that, tossed together, freed people of old-world rigidities that had limited opportunity.  Wealth was created like never before in human history. But like the unfortunate King Midas, America planted the seeds of its own destruction.  Midas couldn't live; his golden touch deprived him of food and water.  As for America, while free-market capitalism produces wealth beyond any other system, it doesn't equably distribute that wealth.  Great wealth lies at the fringes of the distribution of human abilities, resulting in envy across the spectrum and suggesting that democratic societies can't tolerate free-market...(Read Full Article)

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