Do Americans Have An Entitlement To A Continuously Growing Standard Of Living Beyond The Rest Of The World?

Americans appear to have some regrettable belief that by simply being Americans, they have an entitlement to a superior and improving standard of living. False. That might have appeared to be the truth for many decades, but they will be in for a really agonizing shock. An ever more global economy is a fact, and while the topic is to some degree overworked, it's true that Americans can not demand to be compensated handsomely for similar work that Asians are prepared to do at a cheaper wage. Nor can companies in India, China, etc., hope to have the ability to always pay those low wages permanently. There probably will be some form of a "meeting in the middle" over the coming years with Asian incomes growing and American wages falling. That's great news for Asians, but not so great for a lot of Americans.

To a significant degree, Americans are living off the heritage of our former free-market, small-government, capitalist economy which was the engine that supplied the increasing standard of living Americans used to experience and modern day Americans appear to expect. I say former, simply because we now have anything but that any longer. The central government tries to regulate wealth creation even though creating no wealth whatsoever. Its major products are rules, unsuccessful programs, and aggressive foreign wars. Not one of these has a constructive impact on the prosperity of this nation, and I believe the "military-industrial complex" that President Eisenhower cautioned us about may be the most detrimental factor of all. In any case, given his armed forces experience he certainly must have known all about it. War is unbelievably expensive, and as we have observed, once we start one the mindset becomes one of "we need to have triumph thus we need to spend whatsoever is required to achieve it." Seems like a route to national bankruptcy. Think about what might have been accomplished with the cash we've spent on these wars. And that does not even include the social damages to individuals and families.

The point is, downsizing on a family level will be the new thing to do, regardless of whether we like it or not. A continuously improving standard of living comes from private savings and investment, productive labor, along with a political environment established by a government that doesn't behave like business expansion will proceed no matter what the government might choose to do to obstruct it. As far as those things are missing, so also will expanding private wealth be outside our reach.

One does not have to like the laws of economics, and one may employ the services of individuals with mistaken views to obtain the answers one desires, however the facts stay the same.

Do Americans Have An Entitlement To A Continuously Growing Standard Of Living Beyond The Rest Of The World?
Americans appear to have some regrettable belief that simply by being Americans, they are entitled to a high and improving standard of living. Not true.

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