The following excerpt is from this week’s column, “Save the People; Kill the European Superstate”:
“An honest man,” wrote Ayn Rand in “Atlas Shrugged,” “is one who knows that he can’t consume more than he has produced.” Where does this leave the Greeks?
For the second time since 2010, Eurozone finance ministers threw Greece a “financial lifeline,” this time to the tune of $172 billion. The European banks have agreed to write-off more than 50 percent of the money owed by Greece, forgiving a $100 billion in debt.
Still, Athens, like Washington, is corrupt to the core. It continues to spend more than it takes in. Greek labor markets have yet to be liberalized. A high minimum wage impedes hiring. And, by BBC News’s accounting, “a habit of paying a ‘holiday bonus’ equal to one or two months’ extra pay” persists. One need not be a Delphic oracle to divine the next stage in Greece’s unraveling: a downgrading of the country’s credit rating to junk status.
“Austerity,” however, is a euphemism among politicians and their media pack animals for “long term retrenchment and reform” in the public sector. Implicit in their critique of “austerity” is that inflicting pain on the Greek state apparatus will inevitably destroy Greek society.
Au Contraire. State and society should never be conflated.
Try explaining to our president that the bigger the state, the smaller the civil society. …
Read the complete column, “Save the People; Kill the European Superstate.”
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