Makers and the Takers
Politicians and economists tend to like using the term "Rent-seeking" to describe the problem with American economics, and while that's partially true, I think it's much simpler than that.
You have the makers and the takers.
You have people who try to make a living by taking it from others.
Then you have people who make a living by making for others.
Landlords, bankers, tax authorities, financial companies and politicians are, by large, takers. They don't produce anything particularly of value themselves, but they excel at wresting value from others, enabled by an inequitable system with a legal framework that blesses their efforts.
Often people describe "socialistics" as takers ("You run out of other people's money"), and this is by and large true, but in America, I'd say the bigger takers are the above figures. And, it is true, with the politicians, bankers (Through the mortgage/rental/property markets) and landlords taking whatever last dime they can, people eventually run out of money. So, the problem with America as compared to say Germany, is quite simply we have too many takers taking too much and not enough makers. We have a culture of taking, there's nothing to take if nobody makes.
Saying it another way, there's a culture of greed and sloth.
Germany doesn't have this problem. They truly seem to understand the key economic power in making, whether that be in dwellings, machines, parts, etc.; as a result, they have a strong middle class with wealth in abundance. They're keen to not fall into the trap of "taking too much, not enough making" that seems to tend to afflict warmer countries.
You have the makers and the takers.
You have people who try to make a living by taking it from others.
Then you have people who make a living by making for others.
Landlords, bankers, tax authorities, financial companies and politicians are, by large, takers. They don't produce anything particularly of value themselves, but they excel at wresting value from others, enabled by an inequitable system with a legal framework that blesses their efforts.
Often people describe "socialistics" as takers ("You run out of other people's money"), and this is by and large true, but in America, I'd say the bigger takers are the above figures. And, it is true, with the politicians, bankers (Through the mortgage/rental/property markets) and landlords taking whatever last dime they can, people eventually run out of money. So, the problem with America as compared to say Germany, is quite simply we have too many takers taking too much and not enough makers. We have a culture of taking, there's nothing to take if nobody makes.
Saying it another way, there's a culture of greed and sloth.
Germany doesn't have this problem. They truly seem to understand the key economic power in making, whether that be in dwellings, machines, parts, etc.; as a result, they have a strong middle class with wealth in abundance. They're keen to not fall into the trap of "taking too much, not enough making" that seems to tend to afflict warmer countries.