Could Bill O’Reilly Pass Economics 101?

Economics Professor Richard Wolff challenges Fox’s Bill O’Reilly’s recent assertion that Cyprus and Greece are facing economic problems because they are “nanny states.”

“[Bill O’Reilly] gets away with saying things which no undergraduate in the United States with a responsible economics professor could ever get away it,” says Wolff, who claimed the true nanny states in Europe – Germany and the Scandinavian countries – are prospering.