http://www.bloomberg.com/apps/news?pid=20601087&sid=abNkm2qSrD5E&refer=home Rogoff has it right.....and there is nothing wrong with it.... Business models change and adapt all the time.... Globalization demands it.... ............................................................... Which leads to another categorical reasoning.... If business models have to change and adapt, so does the government model....in that it was intertwined with the old.... Time for this one to come home....
Is "categorical reasoning" a new way of saying "intellectual masturbation" or is it the real thing in this case?
Doubt it. Government knows only one model... MORE!! More regulation, tax, inflation, big brother, benefits for government and its employees, you name it... We US citizens will have less and less as our quality of life erodes... but Gummint will have more of everything.