What are the macroeconomic implications of the statement?



What are the macroeconomic implications of the statement?

Introduction

Government's role in an economy has never been properly explained. We will have a go at it ourselves. In a word, government betrays the future. Government is a profoundly reactionary institution. It always favors its current clients - the present generation of taxpayers - over its clients of the future (who don't pay taxes and don't lobby). It provides protection against foreign invaders and domestic troublemakers. It also attempts to give its clients protection against the future (lesina, 1988).

Taxpayers want government to protect their existing assets…their ...