The global era of socialism, entitlements and debt spending is about to come to an end

Wednesday, August 19, 2015
By Paul Martin

by: J. D. Heyes
Wednesday, August 19, 2015

For years, sociologists, political scientists and economists have been warning that increased government spending on entitlements, welfare and other Left-wing-inspired socialist benefits would bankrupt communities, cities, states and even entire countries. Such Keynesian schemes have historically never ended well, and with each new collapse, one might have thought that lessons would have been learned and history would not be repeated.

Halfway through the second decade of the 21st century, however, it is apparent that few governments, especially those in the democratic West, have learned this lesson, judging by the number of governments that are currently operating well into the red.

That said, many are about to get a first-hand look at why socialist Keynesian economic schemes are destined to fail, and why free-market capitalism (defined and described here) is a superior economic model because it is based on far more realistic economic principles.

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