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Posts Tagged ‘Irish bailout’

A welfare state is founded on the principle that the state plows back some of its accumulated strengths from the combined force of its people.It takes the form of services and also financial help on the assumption that in any society some 15% are likely to go under and consequently may drag the rest with it if some kind of coordinated support is not given in time. It is not charity but prudence to keep the morale of the people in certain temper that keeps the state to go about its business. Even an underprivileged citizen on welfare can be put to use in an emergency: war, fire or plague. If his life is not worth considering by state in good times it cannot expect his or her support in bad times.
It is the fault of the state if it cannot put its member of the state to good use.
A hellfare state is where the state works on the seemingly sound principle of letting the brightest and the cleverest special privileges like tax cuts (for those who don’t need them-super rich, I mean) incentives for entrepreneurs to control the workforce to do their bidding. More likely than not the brightest or cleverest would prove to be enemies to state if necessity arises, to save their own wealths than meet the danger the state may be facing.
Now to my main subject.
Those who invested in Iceland were not looking for the welfare of the country but worked purely on the principle of greed. When Iceland faced economic slump it let foreign investors and runaway banks ( chasing after profits whether on sound banking principles or not) also share some of the blame. Whereas Ireland seems to make the taxpayers suffer for letting those pushed up economic bubble beyond sustainable levels. When the banks went bust who are to be penalized people or the banks?
Here is a joke. What is the difference between Iceland and Ireland? Oh just a letter r. It is often the case whenever one falls one is more likely to land on the head or on the r’s.
benny

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