Quote Of The Day

“The root of Old Europe’s problems is that it is in denial regarding the nature of the society it has constructed. In the first instance, European nations are capitalist, not socialist. It takes capitalism to have socialism, in the sense that without capitalism you get Cuba and North Korea and Albania when you try to redistribute. How many politicians in Old Europe are ready to defend capitalism against the utopian left? Not one prominent man or woman. Old Europe thinks that it has reached a sort of end-of-history—people dream of moving beyond capitalism to a more “humane” world. Witness the 35 hour week. The 35 hour week will go down in history as the point at which France raised its hands, capitulated, and sank into a slumber. Let’s hope that the rest of Europe wakes up before the continent’s relative decline leads to protectionism and drags the rest of us down”. —Timothy B. Smith, associate professor of history and chair of undergraduate studies at Queen’s University, Ontario, discussing the fate of Europe in the libertarian blog Cato Unbound

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