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How big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good.

Nah, They Just Like Long Vacations

Posted on 02/12/2007 09:02:00 | Link | Post Comment
Nobel laureate Edmund Phelps opines on what's wrong with the European economies:
In my earlier work, I had organized my thinking around some intellectual currents -- solidarism, consensualism, anti-commercialism and conformism -- that emerged as a reaction on the Continent to the Enlightenment and to capitalism in the 19th century. It would be understandable if such a climate had a dispiriting effect on potential entrepreneurs. But to be candid, I had not imagined that Continental Man might be less entrepreneurial. It did not occur to me that he had less need for mental challenge, problem-solving, initiative and responsibility.

It may be that the Continentals finding, over the 19th and early 20th century, that there was little opportunity or reward to exercise freedom and responsibility, learned not to care much about those values. Similarly, it may be that Americans, having assimilated large doses of freedom and initiative for generations, take those things for granted. That appears to be what Tocqueville thought: "The greater involvement of Americans in governing themselves, their relatively broad education and their wider equality of opportunity all encourage the emergence of the 'man of action' with the 'skill' to 'grasp the chance of the moment.'"

1 Comments:

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posted by oqjdwmry vpqblyzej @ 02/27/2007 07:11AM

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