Last night I had dinner at Log Haven in Millcreek canyon with
Jim Dorn of the Cato Institute. He seems to like Utah's wilderness. I am in line line with the greater part of libertarian thinking, but fall short when it comes to development of the last wilderness in America.
I am not of the opinion that Government needs to control everything, but believe strongly that these last bits of wilderness should be left alone. The wildlands of Utah and Idaho simply do not need to be part of the economy. There is no great rush to put every last asset of the nation into the burner. Some assets should be held for the future.
It was a fun dinner. The total bill was more than my websites make in a month, but I guess that is the way relative values work in an economy. See, my greatest fear is that the deflation that has rocked the tech sector will work its way through the rest of the economy. Mr. Dorn does not think so. As computer engineers take dish washing jobs in restaurants, the economy will just shift.
Inflation and deflation is simply the product of monetary policy.
Being in the tech sector, I still fear that we could get in to a situation where the technology starts to gnaw at wages. If the big drop in employment is accompanied by big drop in wages then we will start seeing millions of people lose their foot hold in the economy and become destitute.