Rilly Willy?

For markets, even though neither Gove nor Fox wants openly to concede it, don’t work as the ideology predicts. Market economies need the state, European-style.

That’s why all the richest economies in the world are in continental Europe, are they?

11 comments on “Rilly Willy?

  1. For the most part, per capita incomes throughout Europe rival those of the five to ten poorest states in the USA. So, yeah, what you need is more of what you have… And I hope you get it, Mr. Hutton, good and hard.

    Someone should tell Hutton that if you write an opinion article and it reads like it’d been lifted from Richard Murphy’s blog, you have a problem.

  2. Strange – markets pre-date the state, European-style, by thousands of years.
    Has Will never heard of the Phoenicians trading with Cornish tin miners before the Fall of Troy?

  3. A government cannot create value – if anything It impedes the ability of economic actors to voluntarily trading in order to actualise true value.

  4. The richest economies of Europe are the ones that have not been communist and not been in the EU: e.g. Jer, Gue, IoM, Lie, Swi, Nor, Ice, And, Mon
    Not exclusively of course.

  5. Has Will never heard of the Phoenicians trading with Cornish tin miners before the Fall of Troy

    I doubt it. But I haven’t either. Fall of Carthage yes, definitely.

    Pendantry, of course.

  6. SE, why not before the fall of Troy? That’s usually put at about 1,200 BC,and we know that Cornish tin was being traded internationally well before that (the German Nebra Sky Dish contains it, and is dated reasonably reliably to 1,600 BC).

  7. ‘Who believes in the magic of self-organising, dynamic markets that never make mistakes?’

    How can people doing what they want to do make mistakes? Ahh . . . if they do what he doesn’t want them to do, it’s a mistake.

    ‘The challenge is not to surrender to markets nor to socialise them, but to harness them’

    The Lefty belief that the free can be managed.

  8. the man who ran theindustrial society/work foundation into winding up is the ideal person to lecture us on how to run a railroad.

  9. @ SE
    The Phoenicians traded with the Cornish tin miners. After Carthage was founded as a Phoenician colony it took over trade in the western Mediterranean and even further west from its parent. Virgil’s Aeneid is fiction but intended to be believable fiction so the foundation of Carthage was, at the time, believed to predate the fall of Troy.
    Phoenicia was subjugated/destroyed by David around the time of the destruction of Troy.

  10. SE: Troy was Bronze Age, required tin as a strategic mineral to make weapons, together with copper from Cyprus. Tin deposits are comparatively rare so the incentive to trade long distances were there.
    Fall of Carthage was Iron Age third Punic War. Tin was important to line cooking vessels not to make weapons.

  11. @ Tim
    Several of the richest states (in GDP/head at PPP) are in Europe – just not in the EU!
    Liechtenstein (1st), Monaco (3rd), Isle of Man (9th), Norway (12th), Gibraltar (16th), Switzerland (17th), San Marino (19th), Guernsey (23rd), Andorra (29th), Jersey (32nd),

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