Powell taught big lesson in just 4 words
Jay Evensen
"Money is a coward."
To be honest, I hadn't been expecting that sort of a message. Washington was in a bit of an uproar at the time, not just because of the terrorist attacks but because anthrax powder had been discovered inside various pieces of mail, including some in the State Department building, where our meeting took place.
But as I found out, those four words had everything to do with his approach to foreign policy and with the reasons for fighting terrorism. "Come on, come on, try democracy," Powell said he was telling foreign ministers, particularly from the Middle East. "Free your people. Give them a chance."
That's a message that has application in this country, as well, particularly last week as Congress and the president struggled over what to do to stave off a recession.
Money seeks safety. So far, it doesn't appear to be too impressed with talk of a stimulus package that includes rebates. Perhaps it knows such a thing wouldn't help much. It did, however, react well to a large interest rate cut. I'm guessing it would react well to a tax cut, too.
There are no real surprises. The top five this year, in order, are Hong Kong, Singapore, Ireland, Australia and the United States. The bottom five, beginning with the worst, are North Korea, Cuba, Zimbabwe, Libya and Burma. That also could be a quick list of the best and worst places to live on Earth. Like money, people prefer safety, too, but they tend to have to live where they're born. Money likes to travel.
Each year, the list also corresponds, in general terms, with political freedom. You can't have true economic freedom without property rights, a judicial system that is free from corruption and laws that allow people to govern themselves.
And there is another message. It's possible for a country to change, and to change rapidly. Estonia ranks 12th, which is a dramatic rise from its recent days as a Soviet state. Singapore has made incredible strides in the last 40 years. Mauritius, despite its location in impoverished sub-Saharan Africa, leaped into the top 20 this year because it has adopted business-friendly and trade-friendly policies.
Recent comments
This was an excellent column and I thought the point he made about...
bushie | Jan. 27, 2008 at 2:20 p.m.
Roldand - forget about the developed world. How do our taxes compare...
TTR | Jan. 27, 2008 at 12:30 p.m.
U.S. taxes are among the lowest in the developed world. Please get...
Roland Kayser | Jan. 27, 2008 at 9:44 a.m.
