Justice Holmes

After stating in tonight's Prós-e-Contras that the Portuguese people are ignorant, if not stupid, our former PC colleague José Manuel Moreira is now quoting Keynes, Justice Holmes, Nobel prize-winner James Buchanan, and citing at least four schools of economic thought: the Austrian school, the Monetarist school, The Public Choice school and the Keynesian school.

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One hour later: a participant, a biotech entrepreneur, says that the debate so far has been sterile. (What would you expect from a Portuguese public debate?) He adds that we have two frontiers: one is Spain, the other is the sea. Thus, we need airports. He rejects the Sines investment project because that is a Marcello Caetano's project. He criticizes JMM distinction between a Gasoline-powered social democratic party (PS) and a Diesel-powered social democratic party (PSD, the emphasis is on the D) .

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Reminder: the debate is about "Strategies for the Crisis". Minister Pinho says Portugal is a leader in the energy sector. Former President Clinton said so three weeks ago. And an American Secretary of State was in Portugal last week to sign a protocol on energy issues. There have been five summits on this theme between Portugal and Spain over the last three years.

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PSD's MP Jorge Costa says that the government has adopted the formula: "Compre agora e pague depois". He adds that there are some areas, like health, where instead of having the simplex we have the complex.

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Back to JMM. Excessive consensus is corporativistic. If a man loves a woman it is not good that 350 other people love the same woman (I do agree: I hate competition on this issue). The industry of the poor is the most important industry for governments. Do people prefer a welfare state or a welfare society? (An awful question for ignorant, if not stupid people to answer). He quotes economist Albert O. Hirschman. He also quotes his friend Architect Fernando Anhas who loves "ser bem enganado" .

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João Ferreira do Amaral talks: I think he is an excellent economist.

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I wonder what Justice Oliver Wendel Holmes, a great liberal in the British tradition, with his appreciation for competition, would think about that issue raised by JMM, namely competition for our own woman (in Brazilian they say "à mulhé dá genti"). I really believe a monopoly is much better on this issue.

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I like this gentleman who, with big gestures, is now talking about food and wine. He says we have the best fish in the World. (Sure, it is much better than the British fish-and-chips). He talks about Portuguese cheese and enchidos. Fátima introduces the issue of ASAE. As a good Portuguese, he hesitates a little bit: it is not good to criticize the authority in public (it seems obvious to me, though, that in private he hates ASAE). He talks now about NASA and Mac Donald's. He concludes that ASAE's laws must be reviewed (He really hates ASAE but in public is soft on it).

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PSD's MP Jorge Costa is the participant in the debate who talks about everything, regardless of his knowlegde. He talks now about "polis turísticos" and "qualificação profissional".

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Minister Pinho: Tourism has never been as good in the country. Three years ago it was a disgrace. He talks about "rasgar do zero" new touristical areas. Government has signed a protocol with the best school of tourism in the World (Lausanne). It will be a revolution.

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JMM to Minister Pinho: How do you explain the Alcochete Airport? JMM prefers Portela plus One. Fátima stops him: there has been too much talk about the Lisbon Airport in the program. JMM decides to talk about bombing and rent controls as means to destroy a city. Minister Pinho never answers his question.

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The biotech entrepreneur talks now about the examples of Ireland, Puerto Rico and Singapore. He says we must attract companies like Yahoo, Microsoft, Google. Fátima stops him before he reaches Oceania.

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Fátima to a financial consultant in the audience: How can we get out of the fossa? He mentions the example of Ireland, the need to plan for an horizon of twenty years, as well as the need for the Portuguese people to get out of state's dependence. (In other words, he is calling for a miracle).

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Jorge Costa: Public investment is no answer to the present economic situation. More transparency is needed. He talks about Ota. A selection of projects and policies is needed. The Irish model has no TGV. (Did you know that?)

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Minister Pinho: Too bad people are still taking about Ota and the TGV. All of us want the same. Fátima says that we don't want to pay the calotes of energy companies. Minister Pinho emphasizes he will keep his strategy (he never said what that strategy is all about). He respects JMM's question (but does not answer it). He talks about the truck-drivers' strike and states categorically that Portugal solved it much better than Spain and three weeks faster. (Portugal is in great shape, if we listen to Minister Pinho: in energy, in tourism and in solving truck-drivers' strikes).

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Now, what do you conclude about the Strategies for the crisis? Hint: specializing the country in solving truck-drivers' strikes all around the World?