President Biden thinks we need to compete with China by fixing our infrastructure. This is missing the point entirely. We can’t compete with China because the cost of living in America is 10 times higher than it is in China. Infrastructure spending paid for with debt only makes the cost of living in America even higher.  This makes American workers and companies less competitive, basically making everything worse.

There is another way of thinking about economics. It’s a science and engineering approach. Today, the economy is a mystery, no one knows what happens next. This is because economics is not a science, it’s a psychological study of human behavior. The scientific approach looks at the banking system and when engineering is applied, the inputs into the economy are identified. As it turns out the only input into today’s economy is bank loans or, debt. If humanity wants to be in control of its future, it needs to take control of the inputs into its economy. Engineering techniques can then solve for humanities biggest problems. From lack of robust economic growth to global warming to poverty and safety net issues, there is an answer out there that works for everyone.

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