The interview deals with Professor Phelps’ marvelous book, Mass Flourishing, Professor Phelps wrote: “In the West there is a sense that the ‘glorious history of desire and dreams has wound down.” The cause is discussed along with hat can be done to restart the system of ‘desires and dreams.’
Professor Phelps suggests that the decrease in ‘desires and dreams’ will dim the prospects for tax revenues to pay for social insurance, . . . .claims by the baby boomers. How this plays out is discussed.
Retirements and technological advancement reduce employment; where will additional tax revenues come from?
Other important issues mentioned: cronyism, short-termism, corporativism (fascism). Many other topics of general interest.
For more information, see:
More Information can be found from Larry Parks HR1098 Congressional Testimony 9-13-11
To get a copy of What Does Mr. Greenspan Really Think? from Amazon, click HERE
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