“Imitation is the surest form of flattery and failure. I am not interested with your talk about my ideas. I am more interested in your applying them to your life. If you do not, then you are essentially not in accord with your own mind.”
Miyamoto Musashi translated by Stephen F. Kaufman

The Martial Artist’s Book of Five Rings

Euro as “Creative Destruction”

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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

 

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