Do Americans Have An Entitlement To An Ever Growing Standard Of Living Greater Than The Rest Of The World?

Americans seem to have some regrettable notion that simply by being Americans, they have an entitlement to a high and increasing standard of living. Incorrect. That might have seemed to be the case for some decades, but they are in for a terribly unpleasant shock. An ever more global economy is a reality, and although the subject is somewhat overworked, it is true that Americans cannot expect to be paid handsomely for similar work that Asians are willing to do at a far lower wage. Neither can businesses in India, China, etc., expect to have the ability to always pay those low wages permanently. There probably will be some form of a "meeting in the middle" during the coming years with Asian wages growing and American paychecks falling. That's great news for Asians, but bad news for a lot of Americans.

To a large degree, Americans are living off the heritage of our former small-government, free-market, capitalist economy that has been the engine that supplied the growing standard of living Americans used to enjoy and modern day Americans seem to expect. I say former, simply because we now have anything but that anymore. The central government attempts to manage wealth creation even though creating zero wealth whatsoever. Its main products are rules, failed programs, and aggressive foreign wars. Not one of these has a constructive impact on the prosperity of this nation, and I believe the "military-industrial complex" that President Eisenhower cautioned us about may be the most destructive factor of all. In any case, given his armed forces experience he certainly should have known all about it. War is horribly expensive, and as we've seen, as soon as we start one the attitude becomes one of "we must have triumph so we have to spend whatsoever is required to achieve it." Seems like a route to national bankruptcy. Think about what might have been accomplished with the money we've spent on these wars. And that does not even include the social damages to individuals and families.

In any event, downsizing on a family level is going to be the new thing to do, regardless of whether we like it or not. A continuously improving standard of living comes from private savings and investment, hard work, along with a political environment established by a government that does not behave like business expansion will proceed no matter what the government might decide to do to obstruct it. To the degree those factors are missing, so also will growing private wealth be outside our reach.

One doesn't have to like the laws of economics, and one can employ the services of those with flawed views to obtain the answers one desires, however the facts remain the same.

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