Wednesday, June 29, 2011

Hayek Proved Right (Again), Micro-Managing an Economy Leads to Serfdom

North Korea has shut down its universities for the next 10 months and sent students to work in factories, agriculture and the construction sectors, according to London's The Telegraph.

Reports in South Korea indicate that the government in Pyongyang on Monday ordered all universities to cancel classes until April of next year.

A poor economy and also fears of student uprisings at Universities appear to be behind the order.

1 comment:

  1. Robert I'd like your input on this excerpt from a recent American Thinker piece on Obama's economic philosophy taken from Carney's response to Reid's question about morality:

    "In Obama's world, success and failure are moral rather than economic outcomes. Success is a marker for evil. Failure is due to someone else's success rather than personal shortcomings. Failure represents passivity, the choice to not exploit others. Proper moral behavior produces failure."