Timmy elsewhere

At the ASI.

Adam Smith proved right once again.

2 thoughts on “Timmy elsewhere”

  1. So Much For Subtlety

    Indeed, entrepreneurialism is strongest in countries that share the English common law tradition – five times higher than those with a French legal origin. There is also a strong correlation between high rates of entrepreneurship in a country and low taxes. Equally, a low regulatory burden correlates strongly with high rates of entrepreneurship.

    All things being equal that is probably good advice. But I don’t think it is enough. Because not all things are equal. There are countries in the world with low tax rates and yet low rates of entrepreneurship. Haiti springs to mind. There are communities with high rates no matter what the taxes are like – the overseas Chinese and European Jews for instance.

    So there is a culture of entrepreneurship. But what is it? Africans work harder, or at least longer, than Europeans. But they have f**k all to show for it.

  2. “all the rest being brought about by the natural course of things”
    There you go : Adam Smith the uncrowned king of the Romantics. Not a host of golden daffodils but a bunch of radiant SME’s all just pop up through the very absence of human interference.

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