“Theoretically, planning may be good. But nobody has ever figured out the cause of government stupidity - and until they do (and find the cure), all ideal plans will fall into quicksand.”
Richard Feynman

What Do You Care What Other People Think?

Euro as “Creative Destruction”

n

Can it be that the Greek (and Portugal and Spain and … ) crisis is inherently built into the design of the Eurozone?

“The euro would really do its work when crises hit … Removing a government’s control over currency would prevent nasty little elected officials from using Keynesian monetary and fiscal juice to pull a nation out of recession … It puts monetary policy out of the reach of politicians … [And] without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business”

from the Guardian: Robert Mundell, evil genius of the Euro

 

This entry was posted in Greece, Intake, Intellect Run Amok, Money, outside. You are welcome to add your comment