Monday, June 04, 2012

The 4% Solution

David Brooks in the New York Times:
Through the 19th century, the federal government consumed about 4 percent of the national gross domestic product in peacetime. Even through the New Deal, it consumed less than 10 percent.

Meanwhile, America prospered.
Four percent of GDP. Hard to imagine today. Try that in the US, much less in Europe today, and heads would be rolling in the gutters.

Commentary at Volokh Conspiracy here.

Labels: , ,