The author probably has a point, but fails to discuss the problem in a way that might suggest a solution. Reaching a society where the negative feedback between culture issues and economics is eliminated is a daunting prospect. Solving the culture problem is a long run task and importantly will require a lot of money--money for education, training, supporting displaced workers, healthcare, etc. Obtaining the funds means higher taxes and/or higher prices, which could exacerbate the economics side of the equation in the near run. The problem can be successfully addressed only by government action--the market is the problem here. The failure of the Federal government over the last two decades to address critical issues--the development of market power in key industries, the decline of labor unions and a fragile financial system--have put us in a difficult position. Until we throw off the notion that free markets can solve these issues (only a fool believes they can) we are unlikely to make any progress.
Economics, Culture and Negative Feedback
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