EUROPE SLIDES INTO THE POOR HOUSE
Athens, Greece. Europe’s most significant contribution to the world economy at the moment is serving as a bad example.
Much of Western culture and law can trace its origin back to this city of 2,500 years ago. The ancient Athenians learned that democracy is fragile and can lead to bad outcomes — not that other governing systems have proved to be more successful over the long run.
One of the fatal flaws of democracy is the recurring irrationality of the people to vote themselves benefits that they are unwilling to pay for. The idea of getting something for nothing is so powerful that politicians have used the same con everywhere on the planet for thousands of years.
The end is always the same. The music stops when the cupboard is empty. Greece is now Exhibit A in Europe, with others soon to follow.














