It's an ill wind that blows no good. The enclosed article on the size and growth of government by Thomas Garrett and Russell Rhine contains an excellent discussion of why government grows by 350% per capita per 50 years or so. see figure 1. It shows that the sources come from the recipients of lump sum payouts, and the monopoly status of governments.

One wonders what a comparable discussion of why the Fed's balance sheet and powers would grow. Part of it comes from those that directly receive the aid, the banks, failed companies, and flexions who receive the most valuable thing of all, the heads up and information on what they're going to. The other part comes from the constant accretion of power, money, and perks that goes with increasing one's activity. But how could this best be memorialized and related?


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