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Volume 28, Issue 2

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Monday, 07 October 2013 15:38

Government Shuts Down and Private Sector Feels the Pain, Too

You know the adage. For want of a nail, the shoe was lost, triggering a chain of events that leads to much greater debacles. For want of a nail, ultimately, the kingdom was lost.

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Traders work on the floor of the New York Stock Exchange on October 1, 2013 in New York City. (Spencer Platt/Getty Images)

That’s a great lesson in leverage—how the removal of one small, seemingly insignificant item can trigger much larger consequences. It’s also a great metaphor for the way in which the government shutdown is affecting the economy.

Fox News may tell its audience that the shutdown is in fact a “slimdown.” Talking points may hold that the only federal employees furloughed are nonessential—useless, unproductive bureaucrats—so the effect on the private sector will be minimal. If you see the private sector as something that operates largely independent of government—a bunch of heroic entrepreneurs running around and getting things done as bureaucrats, politicians, and regulators try to hold them down—this view makes complete sense.

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http://www.thedailybeast.com/articles/2013/10/04/government-shuts-down-and-private-sector-feels-the-pain-too.html