The onset of the Information Age brought on wave after wave of vastly improved data processing and data storage capabilities. Technological advances added incredible efficiencies to the management of most aspects of human existence. As a result, living standards continued to rise steadily.
The education system has also played a major role in accommodating the onset of the Entitlement Era. Several generations of Americans have now been taught to believe that everyone can live happily ever after through public policies that embrace the notion of cost shifting.
The electoral mathematics involved in supporting cost shifting has become daunting. With ½ of all American households not paying income taxes while enjoying goods and services passed through by government, essentially at least half of America is now engaged in serious cost shifting. And those just beyond the cost shift dividing line, citizens who pay income taxes and accordingly bear a portion of other’s burdens, are compelled to constantly re-think the net benefits of engaging in hard work.
Long range economic realities will eventually ignore electoral math in the U.S. Every nation that has ever fully embraced widespread entitlements through cost shifting (see Greece) has wound up in the financial ash heap of history. As more and more Americans accept cost shifting as a legitimate means to an end, and fewer and fewer are actively pursuing the increasing of their productive skills, U.S. living standards are beginning to fall steadily.
And in what must best be described as the ultimate indictment of our government-managed education system, many Americans are actually wondering why living standards are falling. For taxpaying businesspeople, it is a jungle out there.