The Big Government Economy
Looks like the goods-govt job ratio peaked around 3:1 in the 30′s-40′s. Now there are far more government jobs than goods-producing ones. Pretty damn shocking.
I had a friend who worked at the Dept of Labor. The agency’s ironic name was a running joke. Apparently people spent most of their time surfing the net, even running Ebay businesses out of their cubes. That’s what happens in low-accountability work environments. And it’s why government spending is always less efficient than the private sector.
These low or zero-accountability jobs are taking over our economy, and it’s not just government. We’re removing accountability and responsibility from all sorts of industries — especially banks, autos, and real estate.
But this support really only goes to the politically connected. Businesses who don’t donate generously to their local reps can drop dead. Welcome to the Kleptocracy.
I’m taking advantage of this “recovery” to prepare for the inevitable funding crisis ahead.
Chart via Tim Iacono, who runs a great blog.