Our Economic Future Doesn’t Have to Be Bleak

 

One of the common misconceptions about our country’s economic condition today is the assertion that we will have to accept a lower standard of living in the future than we have had in the past. It is often phrased in different ways, such as we will have to work harder to get less, or our children will not have the same opportunities that we had.

These sentiments bespeak a decidedly limited view of our ability to overcome obstacles, and an absence of understanding or belief in America’s innate ability to create, grow, build and achieve a better future. Not only the news media dwells on our limitations and imperfections, but consultants and economic prognosticators also traffic in negative forecasts.

Absent from this demoralizing mindset is recognition of the fact that there are no limitations on our economic potential. Our limitations are self imposed. What is required to achieve our destiny are parallel government policies which complement the talents and abilities of ordinary people to pursue their natural abilities. These policies are not in place today. In their stead are a multitude of government programs and spending initiatives designed to answer every economic problem with more government creations. Policies which encourage private solutions are ignored. Government policies today are anti-growth and pro-big government, a chock to a sound economic future. Until these policies change, our economy will continue to struggle in a sub-par fashion, never achieving its enormous potential.

Alfred A. Lagan

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Alfred Lagan is the founder and chairman of Congress Asset Management Company, a respected investment management firm in Boston, MA. Prior to starting Congress in 1985, he held senior investment positions in several financial services firms. Mr. Lagan holds an MBA from New York University with distinction, and a BA in economics from Iona College. He was born in New York City of Irish immigrant parents, and served four years in the Navy.

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