Says the World Economic Forum’s closely-watched Global Risks Report.
And the problem is that politicians are trying to do too much in the industrialized world. They caused this financial mess by perverse incentives such as low interest rates and housing subsidies. They spend money they don’t have. As well, the report notes “The underground economy, driven by the drugs trade, is now putting entire countries at risk. . .. Politicians lost the war on drugs. Time to end it.
Technocracy sucks. Governments need to stop trying to run our lives, impose their values, identify “good things”, spur innovation, inflict social justice. They, not the people themselves, need to get back to basics.