I exhort the politicians and bureaucrats of Europe to think again, to do better. The proposed Greek bailout entails too much intervention into the Greek economy and too many restrictions on the sovereignty of the Greek people. It will not work. The difficulties will endure for too long. It will all unravel. A much better and more effective solution is possible. The Europeans should employ the well-proven and effective economic theory of Quantitative Easing . I am surprised Paul Krugman and Joseph Stiglitz have not already recommended this. The European Central Bank should simply print another €400 billion. Use €340billion to pay off Greece’s creditors. Have a little over to provide some capi
Liberty – a superior ethic The dominant political doctrines of the 20th century failed us economically, socially and morally. The beneficiaries of the welfare state have not been the poor and the disadvantaged; they have been those with influence who can capture and manipulate the system. It is hard to imagine an ethic better suited to undermining the moral basis of a free society. [Yuval Levin] The ethics of liberty on the other hand are based on the principle of private property and founded on natural rights theory. For this we are indebted to John Locke: Every man has a property in his own person. This nobody has any right to but himself. The labour of his body and the work of his hands,
