From a fellow who was there...
Economic collapse affects public sector employment almost as much as private sector employment, eventually. Because government bureaucracies tend to be slow to act, they collapse more slowly. Also, because state-owned enterprises tend to be inefficient, and stockpile inventory, there is plenty of it left over, for the employees to take home, and use in barter. Most Soviet employment was in the public sector, and this gave people some time to think of what to do next.
Private enterprises tend to be much more efficient at many things. Such (sic) laying off their people, shutting their doors, and liquidating their assets. Since most employment in the United States is in the private sector, we should expect the transition to permanent unemployment to be quite abrupt for most people.
The term "market failure" seems to fit the energy situation in the United States. Free markets develop some pernicious characteristics when there are shortages of key commodities.
There were no 'pernicious characteristics' from
the shortages based on central planning in the
Soviet Union? Makes you wonder where he was
Except that the planet has never seen a free
market. The United States came close before
1913. There was no Federal Reserve before then,
no income tax and no drug law, the regulations
came in a small book. It's been said that there was
more wealth created in that short period of time
than the whole planet created up til that point.
Expect things to quickly move back to that when
governments run out of money and all government
issued paper is used for something more valuable,
like toilet paper. The transition won't be pretty.
People are accustomed to 'let someone else do
Many people expend a lot of energy protesting against their irresponsible, unresponsive government. It seems like a terrible waste of time, considering how ineffectual their protests are. Is it enough of a consolation for them to be able to read about their efforts in the foreign press? I think that they would feel better if they tuned out the politicians, the way the politicians tune them out. It's as easy as turning off the television set. If they try it, they will probably observe that nothing about their lives has changed, nothing at all, except maybe their mood has improved. They might also find that they have more time and energy to devote to more important things.
A private sector solution is not impossible; just very, very unlikely.I'm working on that last .
When the public sector goes tits up, what else
is left but the private sector? If that's not
private, I sure as hell don't know what to call
Terrible habit, protesting an unresponsive
government, debilitating...a dirty, filthy
sideline until the Fat Lady has had her few
minutes on stage.
But it's fun, like a good steak and a fine lager.
Otherwise, an interesting read.