Quotation of the Day…

Not only capital but also people move to where there is opportunity; and this is an essential part of creating new wealth and prosperity.  This was dramatically illustrated for me in 1978, during a taxicab trip from the Wellington, New Zealand, airport to my hotel.  The driver was friendly, and I asked, “Tell me about your country.”  He replied, “It’s really wonderful.  I don’t like paying half my small salary in taxes, but we receive so much that is free: health benefits, prescriptions, free education through college and advanced graduate study.  I am just a cab driver, but my son is going to be a medical doctor.  He has finished his medical degree and internship, and will begin practicing next year.”  In recognition of his obvious pride, I said, “How wonderful.  You have every right to be proud.  Is he going to practice in Wellington?”  He replied, “Oh no, he’s going to Australia.  You can’t make any money here.”  The New Zealand economic crisis hit about two years later.  New Zealand could not compete in world markets – and could no longer afford socialism.

via Quotation of the Day….

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