Tuesday, April 5, 2011

What happens when you actually implement good ideas?

Well apparently sometimes it works out ok.. Check out Mr. Mart Laar. The ex-prime minister of Estonia who as a young PM (he was 32 at the time) took the book Free To Choose by esteemed Economist Milton Friedman (and all around smart dude) and ACTUALLY IMPLEMENTED the concepts such as a flat tax and privatization.  Perhaps he got lucky but this dude goes down in history as doing something crazy (apparently he met Margeret Thatcher and told her he was going to implement a flat tax and she said that he was a 'brave young man' to try to do that)  and having it actually work.

Check out the excerpts from the wikipedia entry.

Economic reforms

Estonia benefited from hindsight, in that its transition came two years after the transitions in the other former Soviet satellites of Central Europe. Estonia was able to implement many of their lessons while seemingly avoiding pitfalls.[12] Three innovations to the study of economic transitions stand out:

I found out about this dude from the Freakonomics Podcast.

Buy Milton Friedman's book here! =p

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