All over the world we are confronted with political leaders who seem to care more about their own longevity than anything else.

A simple yet powerful example: Even at the best of times politicians like to run fiscal deficits as spending buys votes – Gordon Brown being the best example of fiscal irresponsibility that I can think of; however, it doesn’t stop there. Knowing very well that voters prefer transfer payments over more productive spending such as infrastructure investments, political leaders of all colours willingly deliver, even if it is plain wrong. Prostitution knows no boundaries.

View PDF…