Xenophobia, Autarky, Culture, and Nicolas Sarkozy

*Originally published March 12, 2012 “I want this many foreigners in my country.” In the last fortnight French President Nicolas Sarkozy has been waging a campaign to “save the European way of life.” He recently warned that if the flow of immigrants into Europe is not abated, France will withdraw from the Schengen Agreement, which allows citizens … Continued

Alan Greenspan v. Adam Smith: The Fatal Conceit

Adam Smith wrote in The Wealth of Nations: What is the species of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every individual, it is evident, can in his local situation judge much better than any statesman or lawgiver can do for him. … Continued