Behind the cross-Atlantic productivity gap: The labor-productivity gap is again widening between the United States and Germany and France. Differences in IT spending don't fully explain it. What's going on?
The minute I got to the part in the above article where the authors claimed that inappropriate government regulation was to blame for the productivity dispairities between the two countries, I could almost hear Milton Friedman uttering the words himself.
According to the good book of Capitalism and Freedom, cases of goverment regulation that reach their intended outcome are few and far between. Why is it that politicians think they are smart enough to control the machinations of systems that are so vastly more complex then they could ever hope to grasp? And why is it they seem convinced that a single politician could make wiser decisions than a hundred million consumers in aggregate?
{from CNET News.com}
