The Economic Situation of the West

Paul Craig Roberts- The US economy is run by short-run profit maximization. The absence of vision means a bleak future even in the absence of the Great Reset.

Once upon a time America had a capitalist economy. Bank deposits were used for loans that expanded productive ability. America produced its own goods and grew its own food. America’s currency was backed by gold and inflation was nonexistent. New technology brought into play by new investment improved the productivity of labor, and living standards rose. Profits were plowed back into improved methods and expanded production.

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