Last Saturday, while reading the last issue of The Economist at home, I found the following table with the evolution of government spending for some countries:
You can see that the trend is upwards for all countries.
In one of my favourite books, “Augustine’s Laws“, the author goes on extrapolating several trends in the defense and aerospace industry. I did the same with this table for the average of these countries and the particular case of Spain, for obvious reasons.
When will government spending reach 100% of GDP?
Extrapolating the trend, this would occur in Spain the year 2124 (for the average of the countries in the table it would happen in 2171). What would that mean? By 2124 every euro spent in Spain would be spent by the government (local and central), not a dime spent by individuals. The end of private property.
That is not necessarily worrisome: we would be provided a home by the state, food to eat (the trend doesn’t say whether we would have to eat in public canteens or we would receive vouchers to get stuff from grocery shops), clothing, etc… We would become a kind of communist country in the end. Don’t worry, United States would join us some years later. I guess the last country in joining this pan communist block would be Switzerland, but its time would come, too. No Cold War this time.
In case you wanted to start-up a business, you’d better do it soon: I guess some years before the doomed 2124 it would be prohibited to launch such kind of initiatives. Good luck with your venture! I’ll just look forward to a pleasant and quiet 9-13 position in such an administration. 🙂