Klaus said that the economic downturns are like a flu: if you don't cure it, it takes 7 days. If you do, it takes a week. He was also surprised that Bastiat's famous fictitious petition from the 19th century - a request by candle producers who wanted to be protected by the government against an unfairly advantaged competitor, the Sun - became real in the EU's decision from November 2008 to add 60% tariffs on Chinese candles.That is, in contrast to Americans, he understands that doing something is not necessarily better than doing nothing.
Friday, February 20, 2009
Vaclav Klaus Rules!
At a meeting with European Parliament, Czech president Vaclav Klaus made the following observation: