This is why I recommend another small concept, the Magic Formula. It is: Low Taxes and Stable Money. When taxes are low and money is stable, most of the other hundreds of issues of statecraft you could name become easier to manage, and usually right themselves with time and attention. When taxes are high or money is unstable, the foundation of the economy crumbles, and all of the other edifices of the state crumble as well, despite all attempts to repair them.
When we look at Greece today, it is very clear that we have a rough approximation of Stable Money (thus far), but we certainly do not have Low Taxes.
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