Monday, March 14, 2011

(Economic) Salvation Is Individual, Not Collective

... and that's what we're finding out all over the developed world as socialism crumbles like it always does. Portugal is experiencing youth protests over a lack of job and career prospects.
Portugal, western Europe's poorest country, is producing the best-qualified generation in its history, thanks to big investments in education.

But after a decade of feeble economic growth and a huge debt burden that has forced the government to enact crippling austerity measures, Portugal's economy can't deliver the opportunities that trained young people are seeking.
Socialist central planners in Portugal did exactly what they wanted - spent more on education and social programs - and they've ended up with no jobs, no growth and no money. They should have spent more time with Milton Friedman and less time with Karl Marx. Sadly, they've taught their children to turn to politics for answers.

Chanting for jobs in Coimbra, Portugal.

Once that crowd is done chanting and they go home, they'll have ... what? They're still looking for collective answers.
"People's well-being has taken second place to financial matters," said Luis Santos, a 28-year-old out of work since graduating from Lisbon University three years ago.
Well, Luis, it's like this. You're responsible for your well-being. You always were. Handing that job over to someone else has never worked. The socialists acted out of kindness, but that kindness was misplaced. The only sustainable and effective way to help others is to do it yourself.

1 comment:

Jeff Burton said...

People's well-being has taken second place to financial matters

What a travesty. Next thing you know, people's nutritional well-bing will take second place to agricultural matters.