Italy may well be the main problem. It has benefited most from the euro by having been able to get the euro interest rate instead of what otherwise would have been its own. That would be much higher because Italy has been accumulating so much debt. In the past, Italy has inflated away its debt. The virtue of the euro is that Italy can't do it alone. A tight ECB policy wouldn't permit that to happen again.
Milton FriedmanThe growing role that the government has played in financing and administering schooling has led not only the enormous waste of taxpayers money but also to a far poorer educational system.
Milton FriedmanIf you have free immigration, in the way we had it before 1914, everybody benefited. The people who were here benefited. The people who came benefited. Because nobody would come unless he, or his family, thought he would do better here than he would elsewhere. And, the new immigrants provided additional resources, provided additional possibilities for the people already here. So everybody can mutually benefit.
Milton FriedmanThe real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken.
Milton FriedmanIf you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.
Milton Friedman