Sunday, July 20, 2014
To be or not to be a wise politician
Winning World Cup probably made all Germans feel everything is coming up roses. German Chancellor, Merkel, now enjoys 71% popularity and this may be the interesting paradox for any likable politicians. " The wise man voluntarily does in good times that which the stupid man involuntarily has to do in bad times 聰明人在順境自願做的事就是蠢蛋在逆境時被迫做的事". Merkel lowers the retirement age from age 67 to 63 (US is still 66.2 and will go up) and spends only 1.2% GDP on infrastructure compared to 4.2% in the 1970s. Her predecessor, Schroder, had a painful and unpopular economic reform and was repudiated by voters. Do we need a wise or a stupid politician for the long-term economic growth? Wise or stupid politican
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