Over the long term, if government revenues continue to be more than expenditures (surplus), then the economic health of the country improves, because the government can afford to invest in development projects such as research and development, education and infrastructure. With more income, the government can also afford to lower taxes, which increases corporate profits and attracts more foreign investors, resulting in more economic activities, creating more jobs and enlarging consumer spending and government revenues despite income tax cuts. It is what I call a virtuous economic cycle.
Over the long term, if government revenues continue to be more than expenditures (surplus), then the economic health of the country is good, because the government can afford to invest in development projects such as research and development, education and infrastructure. With more income, the government can also afford to lower taxes, which increase corporate profits and attracts more foreign investors, resulting in more economic activities, creating more jobs and enlarging the consumer spending and government revenues overall despite income tax cuts. It is what I call a virtuous economic cycle.
Sharing a strange experience from my student years at Manchester, England, during late 1970's. I had just arrived in England from India, and was searching for an accommodation, basically a room to rent. I always used to call the English landlords by phnoe first, to ensure that a room was available, and then visit those addresses, located miles away, by taking the bus or a train. Upon my arrival, I was always told that either there was no room at all or that the room was just rented. After a dozen or so such frustrating experiences, it became clear to me that the room was always available - but those English landlords and landladies were reluctant to rent it to someone like me, an Indian or a non-white person. Interestingly, the room was always available to my voice on the phone, because my voice could not reveal either my skin color, or my race, or my national origin. The mystery was thus dispelled, and yet that realization was surely a rude awakening to the true color of English society. It was my first encounter with prejudice and discrimination, and the most shocking moment that shatters one's innocence completely - especially after coming from a noble culture and the best upbringing that takes pride in Equality. I shall always remain thankful to England for the best education that I received during my M.S. and Ph.D., as much as for such exposure to the dark side of the real world. Years later, after coming to America, I realized that America is a whole new wonderful world that welcomes all, and treats everyone with respect and dignity they deserve. God Bless America!
St. Andrews, Scotland, is one pf the most beautiful and scenic places that I have lived in. It's an amazing experience of my life. The University of St. Andrews is the oldest and most prestigeous University in Scotland, now more than 600 years old. I am proud of my past association with St. Andrews, and The University of St. Andrews....the best memories of my education in the United Kingdom.
The ability to think straight, some knowledge of the past, some vision of the future, some skill to do useful service, some urge to fit that service into the well-being of the community-these are the most vital things education must try to produce.
You are in the process of being indoctrinated. We have not yet evolved a system of education that is not a system of indoctrination. We are sorry, but it is the best we can do. What you are being taught here is an amalgam of current prejudice and the choices of this particular culture. The slightest look at history will show how impermanent these must be. You are being taught by people who have been able to accomodate themselves to a regime of thought laid down by their predecessors. It is a self-perpetuating system. Those of you who are more robust and individual than others, will be encouraged to leave and find ways of educating yourself-educating your own judgement. Those that stay must remember, always and all the time, that they are being moulded and patterned to fit into the narrow and particular needs of this society.
Countries that quit producing real products, spend more than they produce, lag in education, burden their middle class with higher taxes, and continue to import billions from other countries, bail out failed businesses and reward bad behavior instead of investing in good businesses, will eventually lose their leadership and wealth
The older dictators fell because they could never supply their subjects with enough bread, enough circuses, enough miracles and mysteries. Nor did they posses a really effective system of mind-manipulation. Under a scientific dictator, education will rea