by John Galt » Thu Jan 29, 2015 5:46 pm
a problem is that european states exercise much more sovereignty over everything than us states and no one ever tells them no. for example, no member state is supposed to have over 3% debt to gdp. lol what no they don't do that. it's also very hard, considering language barriers and some restrictions on movement in order to have one currency across all of it and have it work like it does in america. labor has a hard time moving from places where there is depressed labor markets into others. i do think that allowing the states to fail should be an option though. obviously government subsidizing everything, like the greeks did, has the potential to blow up in their face, as it did
Americans learn only from catastrophe and not from experience. -- Theodore Roosevelt
My life has become a single, ongoing revelation that I haven’t been cynical enough.