Die Bella-Italia-Illusion

Italy cannot keep whining and hoping for external help: it needs to handle its fate and must take the courageous—and socially and politically tough—path that it has avoided so far.Economies grow—as Hayekian business cycle theory teaches—only if agents are willing to forego consumption today and save and invest in order to deliver higher output (thanks to increased productivity) tomorrow. There is no shortcut. mehr hier


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