Source: Law & Liberty
by Samuel Gregg
“When faced with a trade-off between security and liberty, it’s often said, Europeans will invariably choose security while Americans prefer liberty. That adage holds less true these days. Consider, for instance, how much of the US Federal Budget is spent on entitlements, not to mention the refusal of American legislators and citizens alike to contemplate any retraction whatsoever of the welfare state. That said, there’s little doubt that many Europeans’ preference for security via government intervention is exacting a high economic cost from many European countries. Indeed, Europe’s declining international competitiveness and low economic growth are the subject of a major EU report by no less than Mario Draghi, the former Italian prime minister and former President of the European Central Bank.” (10/24/24)