The Welfare State Is Imploding

We should celebrate it. This is our opportunity to restore free-market capitalism.

As I explained in my article on American corporatism, our economic system has reached a point where it is no longer built on the forces of growth, the pursuit of profit, and the creation of prosperity. It is built on the static urge for power and control, both private and government—and we are now witnessing the emerging merger of the two.

Once that merger is complete, there will be no forward motion in our economy unless the power combinat consisting of industrial and government executives decide which way to go. Organic growth, generated by the forces of the free market, the free mind, and the free dollar, will no longer be an option.

Fortunately, not all is doom and gloom. There is a way for America out of this, and it runs through the destruction and demise of the welfare state.