The emerging consensus for greater government activism in domestic economic affairs should be paired with a more expansive vision of the constructive role that the U.S. can play internationally.
While laudable in intention and logic, where it breaks down for me is who gets the money. Corrupt government players in these countries have forever ended up with the funds from grants and so forth. And the people in the countries they sit on top of stay poor and abused. Btw, many young entrepreneurs in whose companies I invest have “escaped” (their words)from Argentina, for example, and emigrated to Uruguay and other places with more liberal economies. Same is true for South Africa, Kenya, Nigeria…. They all lived there and couldn’t wait to get out, leaving lives and families behind in the process. Keynesians forget that the human condition is polluted by a panoply of bad actors who exploit their economic analysis to further their power grabs, including in the good ole USA.
It is encouraging to read an analysis where Argentina is not described as a country of bandits. The nuance of your report is outstanding. Thanks!
While laudable in intention and logic, where it breaks down for me is who gets the money. Corrupt government players in these countries have forever ended up with the funds from grants and so forth. And the people in the countries they sit on top of stay poor and abused. Btw, many young entrepreneurs in whose companies I invest have “escaped” (their words)from Argentina, for example, and emigrated to Uruguay and other places with more liberal economies. Same is true for South Africa, Kenya, Nigeria…. They all lived there and couldn’t wait to get out, leaving lives and families behind in the process. Keynesians forget that the human condition is polluted by a panoply of bad actors who exploit their economic analysis to further their power grabs, including in the good ole USA.