The Tragedy Of The Euro
From the desk of Brecht Arnaert on Thu, 2012-11-15 04:51
For decades, macro-economic policy has been conducted within a Keynesian framework. And while no Keynesian economist has predicted this crisis, or is even able to explain its causes, we are still listening to them today to get out of the mess they brought us into. I would say that this is a problem of legitimacy.
But I am not writing this article as an economist: I am a defender of liberty. What is happening in Europe right now should not only worry economists, but every freedom-loving citizen. As we speak, measures are being taken to take away our liberties in a way that Hayek described so well in his “Road to serfdom”: each government intervention requires more government intervention, until no freedom is left. Step by step, our individual rights are being eroded, and here, in Brussels, a giant moloch called the European Commission is centralizing powers with a speed that would have been unimaginable before the Treaty of Lisbon.
So, this article comes in two parts, one economic, and one political. Let us start with some theory about how value is created, what the origins of money are, and how the euro is the right answer to the wrong question.
But I am not writing this article as an economist: I am a defender of liberty. What is happening in Europe right now should not only worry economists, but every freedom-loving citizen. As we speak, measures are being taken to take away our liberties in a way that Hayek described so well in his “Road to serfdom”: each government intervention requires more government intervention, until no freedom is left. Step by step, our individual rights are being eroded, and here, in Brussels, a giant moloch called the European Commission is centralizing powers with a speed that would have been unimaginable before the Treaty of Lisbon.
So, this article comes in two parts, one economic, and one political. Let us start with some theory about how value is created, what the origins of money are, and how the euro is the right answer to the wrong question.
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