The government’s role in the American economy has shifted dramatically over the past century. During the Great Depression, the federal government instituted many relief programs to pull the US out of the Great Depression. Since then, the US has endured a fluctuation between neo-decentralization and regulation. One fact no one can dispute is that the standard of living has increased steadily despite increasing taxes, regulation, redistribution of wealth, and government intervention. Is government the problem or the solution? Would be be even freer and more prosperous without the government, or has the increased role of government spurred the improved living standards of Americans?
Imagine a time in the future- let’s say 250 years from now. Technology has advanced beyond what our imaginations can conceive of right now. The entire world population can be fed. The innovative minds of tomorrow have created a way to provide health care for everyone at affordable costs. As we all know, the costs of technology go down as time increases, so these products quite possibly be available for pennies.
What role will the government play in this future time period? If everyone has their basic needs provided for at a low government expense, does that mean taxes will decrease?
Would a centralized government even be necessary anymore? In this scenario, everyone’s needs are met, so what will be the purpose of government?
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