Bright economic future possible
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Editor,
What an interesting sequence of columns the Valley Journal presented with Autumn Parmenter’s Nov. 30 missive, followed by Robert L. Phillips’ Dec. 7 reaction. Both were well-written, and both had points to make.
Free market capitalism is still the best economic system, but its excesses do have to be ameliorated. And while the late Dr. Milton Friedman’s maxim that we need to pursue equality of opportunity, not equality of results, is still very applicable, there also must be an adequate social safety net and a decidedly better way to dispense healthcare.
If we recognize that civilization is heading toward a world middle class, there will be an eventual explosion of economic growth in many countries, including this one, to satisfy that vast consumptive market.
As long as Americans retain their solid work ethic with the proviso that they want to improve their economic standing, and if something like Glass-Steagall can be effectively reinstated at the Federal level, separating once again investment and commercial banking, the future of this country and the world looks very bright indeed.
Virgil Hess
Polson
