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Professor Mike Rozeff reports:
Before the U.S. ever became a big player on the world stage, per capita real GDP grew faster than it has since the U.S. became a player. This is because being a big player has meant big government, which has meant more wars and more taxes. The taxes and wars do not produce greater income because, as investments, they provide poor returns as compared with private sector investments. Government wastes capital. The following graph (on a log scale so that growth rates appear as slopes) shows real per capita GDP in America from 1800 to the present
