Liberals in America love to point to Europe with its socialistic policies and tell us what a good example this or that European country is. Sweden allegedly has the greatest government retirement system, so let’s “learn from their model.” France is said to have the greatest government healthcare system, 65% approval rating; let’s “learn from the French model.” Germany we’re told has the greatest government educational system, let’s adopt the German model. And so on.
Several years ago I had a conversation with a professor in a European university. She was a staunch proponent of European socialism against American “cowboy” capitalism.
Wal-Mart has outsourced the production of certain goods to Africa and thus taken away the livelihood of dozens or even hundreds of families and small businesses in the Midwest who used to produce those goods. The cost went down, the participants admitted, but Wal-Mart outsourced the production to countries where slave labor-and even child slave labor-is used.
Many of the improvements in financial conditions can be traced, in part, to policy actions taken by the Federal Reserve to encourage the flow of credit. For example, the decline in interbank lending rates and spreads was facilitated by the actions of the Federal Reserve and other central banks to ensure that financial institutions have […]