Source: United States & Canada – South China Morning PostEver since the Reagan boom of the 1980s, many elites outside the United States have been telling Americans that they have been hoodwinked – that cutting taxes and regulations is a reckless, unnecessary way to spur growth. Countries that provide generous childcare subsidies and wrap businesses in reams of red tape still enjoy equivalent incomes, the argument goes. So why put up with a rugged, muddy cowboy economy?
Two reasons stand out. First, over the past 10 years, US income growth has left…Read More