Libertarian law professor Richard Epstein's latest weekly column is up at the Hoover Institution's Web site. It's about Europe, austerity, Paul Krugman, and the "safety net." He writes, "Draghi's candid admission of the European model's defeat illustrates the danger in social safety nets. These can cushion individuals from shock in the short run, but the balance is not sustainable in the long run. Too many people climb into the nets, leaving too few productive individuals to support them."
I'm actually okay with a safety net, but it's got to be a net, not a pillow-top mattress with 1000-thread-count sheets, and there should be a ladder from it back up to the high wire.
