While the headline numbers for the economy, including the stock markets and the unemployment rate, look very good, a “real” look at the economy produces an image of a dead end economy. For example, if you look at Gross Domestic Product in the US economy from the beginning of 2008 to the present and adjust it for inflation and population—a period of 7 1/2 years it has increased a total of a mere 3.3%. Of that increase, the growth of government spending alone accounted for 65%. If we subtract out this increased government spending--in the spirit of Rothbard’s concept of Private Product Remaining—real income per capital has increased only 1.1% over the 7 1/2 year period.
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