Two instances of the people being fed up with overweaning statism - in Switzerland and France - may indicate the people of Europe are approaching the limits of their tolerance for the ever-expanding powers of government. In Switzerland, a measure to limit the pay of executives went down to a crushing defeat: Switzerland stepped back from a movement to control corporate pay levels, overwhelmingly rejecting an initiative that would have restricted executive salaries to 12 times that of the lowest paid employee. Roughly 65% of Swiss voters Sunday opposed the 1:12 Initiative for Fair Pay, according to results from all of the country's 26 cantons reported by Swiss television. Another 34% supported the referendum item, which was named for the organizers' belief no one in a Swiss company should earn more in a month than someone else makes in a year. The rejection of the 1:12 initiative marks a move away from Swiss efforts to more tightly govern how companies compensate their...(Read Full Post)