Cuba is firing 500,000 government employees and allowing the private sector to deal with them. And now the super-interventionist Greece is experiencing a brain drain
According to a survey published last month, 7 out of 10 Greek college graduates want to work abroad. Four in 10 are actively seeking jobs abroad or are pursuing further education to gain a foothold in the foreign job market. The survey, conducted by the polling firm Kapa Research for To Vima, a center-left newspaper, questioned 5,442 Greeks between the ages of 22 and 35.
Ludwig von Mises was absolutely correct interventionism can not succeed. Interventionism is the new Fail.
If you know anything about Greece, this is not a shock to you. In Greece, the youth are widely considered subservient often spending many of their early years of employment either making coffee or doing the jobs of 4 people...all while making around 1000 euros per month. The best jobs are from parents who own businesses. Union employees actually pass down their jobs to their kids. Finally, there just is very little industry/economy in Greece, so there just aren't enough jobs for the ones that do want to stay. I didn't even get into their declining demographics.
ReplyDeleteGadzooks!
ReplyDeleteThe Friedman Omen has produced an undeniable "Man Fleeing For The Exits!"-pattern. Time to short Greece!