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2 Comments

1. Great article on CalPERS, what isn’t mentioned is that if they run out of money the tax payers are responsible to make up the difference. Where is there any incentive for it to be run well? Typical governmental performance.

2. The economies of advanced states are maintained with sticks and carrots. Fear and greed. People respond to these forces. Look at the Mormons who often advocate their people have basic humble jobs go home for dinner not drink or smoke. By staying away from the high consumption apex of the economic pyramid these people are not easily given over to wants and desires. Like many Roman Catholics they attend only to needs. We can all learn from these tactics and strategies advocated by old line ancient or simple cultures.

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