But every economist knows from the days of Economics 101 that if you offer to supply something for free, the demand for it will be enormous, and that if you don’t use price to limit that demand, you will soon be unable to meet the demand – whether you devote 6 per cent, 8 per cent, or 10 per cent of GDP to health care – and will be faced with long queues.
Klaas Knot: The eurozone crisis – causes and solutions Speech by Mr Klaas Knot, President of the Netherlands Bank, to the Asia Society, Hong Kong, 15 October 2012. *  *  *  Thank you for this opportunity to exchange views with you on this topical issue. I’ve accepted this invitation with pleasure.