The Spanish government has scarcely budged an inch these past ten months. The result? Economic growth and a falling jobless rate.
Though Spain’s unemployment rate remains one of the highest in Europe, it dropped to its lowest in six years.
From the New York Times:
Spain’s unemployment rate has dropped to 18.9 percent in the third quarter from 20 percent in the previous three-month period, the lowest rate in six years and welcome news for acting premier Mariano Rajoy as he looks to begin a second term in office this week.The National Statistics Institute said Thursday the number of people out of work fell by 253,900 July through September to a rounded total of 4.3 million.Reducing the unemployment rate, the second highest in the European Union after Greece’s, had been one of Rajoy’s main promises in government since 2011.
Market Watch explains Spain’s economic growth:
Spain’s central bank expects the country to expand by 3.2% this year, among the most robust growth rates in Europe, which has created more jobs.As more Spaniards have gone back to work, they have been spending more, boosting consumer spending and further accelerating economic growth. Spain has been expanding since the economy returned to growth in 2013 after a deep recession.
It’s almost like bureaucracy impedes economic growth and opportunity… Almost.
Tim Worstall of Forbes with the win:
We do need to have a government, there really are things that have to be done and decided at that level. But it’s not true that direct management of the economy is one of those things. As our two examples show, not having a government might even be beneficial as it reduces the number of things that governments do to prevent the economy tootling along.Not that we should expect the governments or policy makers to agree with us. If the idea generally caught on then we might start to ponder whether we need quite so much governance or policy making–or governors and policy makers. And that would never do, would it?
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