We are moving towards a system of complete collectivism and socialism...a system whereby everybody is enslaved to everybody.
We need to separate the state and the economy. If you do not regulate and tax production and trade you will have peaceful cooperation, harmony and justice among human beings. You will maximise opportunity and prosperity and freedom of choice, freedom to pursue ones own interests and desires.
It is too late though, we have travelled too far down the road to economic hell, a lot of pain must be felt for our years of excesses. Our economy has an addiction, similar to a drug addiction but an addiction to cheap money and credit, an addiction to entitlements.
The issue we have is that much of the population believes the cure to our drug addiction is more of the same drug...they believe the cure to our addiction to cheap money and endless entitlements is...more cheap money and more entitlements.
Cheap money and entitlements may feel good in the short run, much like a drug, but in the long run the sobering reality always catches up with the addict. The global economy needs to go through the economic withdrawals otherwise die by overdose!
I believe that it is almost a certainty that we die by overdose, because it is the easiest option. The hardest option is to go without, deal with the withdrawals and face reality. Unfortunately society will not accept that fate because it is "immoral" to make people go without. Therefore we learn the hard way, the worst way possible.
The welfare state is so ingrained in our culture now that there is no going back. It is almost impossible now to may cuts to it because we have bred an economy so dependent on it that it is political suicide to even speech of such a thing.
When you go through withdrawals, it is possible for the individual and economy as a whole to bounce back overtime. After death by overdose the country may not return to its prosperous potential for generations.