In Part I of this series, we examined the horrific tragedy of Venezuelan statism, and in Part II of this series, we looked at the Scandinavian “free-market welfare state.”
Today, Part III will look at the ongoing deterioration of Greece.
I’ve written many times about how the mess in Greece was caused by an ever-rising fiscal burden.
Let’s look at two charts, drawing from the government spending section of Our World in Data, that confirm my argument.
This first chart shows the overall burden of government spending starting in 1880. As you can see, spending generally consumed a bit more than 20 percent of the nation’s economy (other than during wars) all the way from 1880 to the mid-1960s.
And then the spending burden exploded............To Read More.....
Today, Part III will look at the ongoing deterioration of Greece.
I’ve written many times about how the mess in Greece was caused by an ever-rising fiscal burden.
Let’s look at two charts, drawing from the government spending section of Our World in Data, that confirm my argument.
This first chart shows the overall burden of government spending starting in 1880. As you can see, spending generally consumed a bit more than 20 percent of the nation’s economy (other than during wars) all the way from 1880 to the mid-1960s.
And then the spending burden exploded............To Read More.....
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