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In all seriousness, the problem with insisting on comparing the US economy and the economies of China and India is that they are at very different points in eco
by kahnjw 9y ago
In all seriousness, the problem with insisting on comparing the US economy and the economies of China and India is that they are at very different points in economic development. The US developed huge swaths of infrastructure post WWII, and that infrastructure is aging out and it clearly shows. India and China on the other have cheap and widely available labor to develop new infrastructure.
What happens when that labor wants better pay and safer working conditions? Things will naturally slow down, and it will be hard to maintain all the infrastructure that was built during growth years. The same applies to healthcare, yes it is egregiously expensive, and life expectancy is falling slightly. On the other hand, comparing the US health care system to India's is silly. Health insurance might have high costs, but the level of care you get is far better than what you get today in India. Ten years from now, that might be a different story.