Austan Goolsbee: Europe's Currency Road to Nowhere - WSJ.com
Sadly Mr. Goolsbee, your comments reflect the baneful mentality of the man you recently worked for.
There is no reason not to cut to the point that business is encouraged - but, then again, that plays against the social justice mantra of those who honor outcome more than accomplishment and achievement.
Southern Europe could put forth policies to encourage entrepreneurship, excellence and reward - but, to do that, it would have to cut back on all the waste and pandering to dreams of social justice and equality of outcome that discourage, hamper and constrain (if not eviscerate) economic investment and growth.
To acquiesce to socialist and union-centric economics is not the right approach. Obama added public employees, questionable-at-best regulations and decided to berate the private sector in favor of union-centric, social-redistributionist policies. The result is no growth.
If Southern Europe wants to continue in that vain, the eventual economic cliff awaits.
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