No, the country is not doomed. But we clearly have "issues." If you want real problems, go to Venezuela. The amount of money going into private R&D around the world is at record levels. China was a basket case in 1980 with just 1% of the world's exports; now it's 13% and building a viable VC industry. The world's vital signs keep improving: life expectancy, infant mortality, homicide rates, etc. In the 1960s, 50 out of every 100,000 global citizens died annually from famine; by the 1990s, that number was 2.6.
This is all happening despite an epidemic of economic illiteracy and the resulting government meddling in the economy. It's amazing how the free market can still operate with all of the interference. Imagine the human potential if man figures this out! I am a long-term optimist on the human experiment, but that doesn't mean there won't be plenty of stumbles along the way.
~ Kevin Duffy, Facebook post, May 9, 2019
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