Fiddling With Our Future

Like so many of us, I am worried about the future of our country. All my life we have been the strongest nation militarily, the most exciting and productive economically and, in so many ways, the best place to live the life you choose for yourself, in the arts or in commerce. I’ll admit that my view is skewed somewhat because I am a white male born just after the end of WW II. That country—the one that beat the Great Depression and the global enemies of freedom—and I grew up together. The opportunities for me were boundless. I now better understand that this wasn’t true for many people of color and for many of any skin color who were economically and educationally disadvantaged. But for many of us, the sky was the limit. We soared, and we took the country with us on our giddy flight.

On the day our new president was elected, our nation's prospects looked bright. The economy was purring along and participation in its opportunities was broader than ever.

My, how that outlook has changed in just a few short months. We are almost certainly headed into economic headwinds that we have generated ourselves. What will be our place in the world in four years? Are we heading toward late-stage ancient Rome, with Nero in charge? 

What qualities make a nation most likely to succeed economically? (I understand that GDP is not necessarily the ultimate measure of value, but without a robust economy none of the other things we value have the breathing room to flourish.)

Here is what Chat GPT told me, which is a decent summary of what I have read repeatedly over the years. Read them and think about what is happening in America today and form your own conclusion about whether we are heading, perhaps dramatically, in the wrong direction.

“Key factors contributing to a strong economy include:

1 Stable Government and Policies: Consistent regulations and political stability encourage investment and growth.

2 Skilled Workforce: Education and training boost productivity and innovation.

3 Infrastructure: Efficient transportation, communication, and energy systems support commerce.

4 Technological Advancement: Innovation drives efficiency, competitiveness, and economic expansion.

5 Access to Capital: Strong financial institutions enable businesses to invest and grow.

6 Trade Opportunities: Open markets and international trade increase economic activity.

7 Natural Resources: Availability of resources can fuel industry and exports.

8 Entrepreneurship: A culture that supports new businesses fosters job creation and innovation.

9 Monetary and Fiscal Policy: Effective management of interest rates, taxes, and government spending stabilizes the economy.

These factors interact to create an environment conducive to sustained economic growth.”