Archive for July, 2013

Joachim Voth, professor of economics at Pompeu Fabra in Barcelona, describes and discusses four scenarios for the Euro’s future:

We are destroying a huge amount of the good work created by the European Union, almost over night as a result of the current policy mix.

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Decades ago, Nobel laureate Milton Friedman discussed the impact of intellectuals and businessmen on the free enterprise system:

You must separate out being pro free enterprise from being pro business.

The two greatest enemies of the free enterprise system have been on the one hand my fellow intellectuals and on the other the big businessmen. For opposite reasons:

The intellectual is all in favor of freedom for himself and all opposed to it for everybody else.

Almost every businessman is in favor of free enterprise for everybody else but special privileges for himself.

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It is often said that the welfare state would work in theory but fails in practice. Here is Thomas Sowell‘s response:

You mean separating the hopes from the reality.

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