Western Europe is in deep trouble. Growth is low, unemployment is high, most people are dependent on the state and welfare services are falling apart. Yet most politicians defend the European Social Model. Reforms merely scratch the surface. But the Model is not the solution to these problems – it is the problem, says economist Johnny Munkhammar. Discuss.
Originally posted by der schwarze RitterGrowth has been higher in the Eurozone than in the US for the last 6 months.
Western Europe is in deep trouble. Growth is low, unemployment is high, most people are dependent on the state and welfare services are falling apart. Yet most politicians defend the European Social Model. Reforms merely scratch the surface. But the Model is not the solution to these problems – it is the problem, says economist Johnny Munkhammar. Discuss.
In March unemployment in the Eurozone reached its minimum since 1993. Two weeks ago, the European Commission predicted it would fall even more.
I don't give a crap what economist Johnny (who?) has to say, as he clearly knows nothing about what he is talking about.
Oh, and neither do you if you think he's right.
It's really funny how Johnny-libertarians frequently come out with doomsday predictions for the EU, for the Euro, for the consequences of enlargement, etc., etc.
I would think that eventually they would get bored of getting it wrong.
Edit: Corrected the 'false friends' liberal/libertarian.
Originally posted by der schwarze RitterI can equally find an article about how America's economy is going down the pan:
Western Europe is in deep trouble. Growth is low, unemployment is high, most people are dependent on the state and welfare services are falling apart. Yet most politicians defend the European Social Model. Reforms merely scratch the surface. But the Model is not the solution to these problems – it is the problem, says economist Johnny Munkhammar. Discuss.
http://www.washingtonpost.com/wp-dyn/articles/A38725-2005Apr8.html
http://www.lilithgallery.com/articles/2005/USeconomic_collapse.html
Looks like the American approach isn't working.
Originally posted by mrstabbyYour data is a little outdated, wouldn't you say?
I can equally find an article about how America's economy is going down the pan:
http://www.washingtonpost.com/wp-dyn/articles/A38725-2005Apr8.html
http://www.lilithgallery.com/articles/2005/USeconomic_collapse.html
Looks like the American approach isn't working.
Originally posted by der schwarze Ritterare you going to provide some kind of link?
Western Europe is in deep trouble. Growth is low, unemployment is high, most people are dependent on the state and welfare services are falling apart. Yet most politicians defend the European Social Model. Reforms merely scratch the surface. But the Model is not the solution to these problems – it is the problem, says economist Johnny Munkhammar. Discuss.
Originally posted by PalynkaAccording to your own words, the Eurozone was in a slump since 1993 – that's 14 years of poor economic performance. During that time, the United States experienced the greatest economic gain in the history of the country. The only reason that the European economies are starting to leave the ditch is because both France and Germany elected leaders who realized that their social model was broken and are willing to emulate the American economy.
What about mine?
Originally posted by der schwarze RitterLOL!!
According to your own words, the Eurozone was in a slump since 1993 – that's 14 years of poor economic performance. During that time, the United States experienced the greatest economic gain in the history of the country. The only reason that the European economies are starting to leave the ditch is because both France and Germany elected leaders ...[text shortened]... ho realized that their social model was broken and are willing to emulate the American economy.
According to my own words the Eurozone is growing faster than the US, contrary to Johnny-libertarian argument and has actually been decreasing unemployment. According the facts too! What a coincidence!
According to you and Johnny-libertarian we growing slowly and with exploding unemployment rates. Shame it flies in the face of the data, isn't it? The downfall of the European Social Model has such a nice buzz...
And now Europe is emulating the American economy? I thought we were on the downward spiral road of socialism a few posts ago?
You could at least try to be coherent.
Edit - And the data is up to March (most up-to-date quarterly data). Until then, France had the same president it had for the last 10 years.
Originally posted by der schwarze RitterNot in my Western European socialist hick-town. We've had the longest unbroken period of growth at the highest average for years. We do share one thing in common with you, though: like the USA, the UK's social mobility is virtually zero. And, like the USA, this means that we're an increasingly divided society.
Western Europe is in deep trouble. Growth is low, unemployment is high, most people are dependent on the state and welfare services are falling apart.
Your right, declining birth rates in some european countries mean that some societies such has italy, greece and spain have reached the point "lowest low" (i think its called) from which it is difficult to recover. To sustain it's size, a each woman must have at least 2 children. yet in most western european countries these rates are well below 2.
As a result societies are aging, and more people become dependent on the state. Recent UK legislation making it illegal to discriminate against someone on the basis of age is an attempt to keep people in the work force longer, easing the burden under the already unsustainable pension system.
Of course we can always rely on immigration to ease our burden. Although it's not working, as sadly most immigrants are not doctors and bankers and scientists and judges, but actually end up on welfare themselves, placing an even larger burden on the welfare system.
One simple solution, offer people tax breaks. One family with 5 children and an income of £100'000 pays income tax on one fifth of that (divide the taxable income by number of children). A man with no kids and the same income pays income tax on all of it. It would help kick start people into having more children, the only way this problem can actually be resolved.
Originally posted by der schwarze RitterIt's showing how we always get these economic doomsday predictions. Paul Volker was Chairman of the Federal Reserve for a while, so you'd think he'd know what he's talking about.
Your data is a little outdated, wouldn't you say?
A 75% chance of a currency crises within the next 5 years isn't outdated yet.
Edit: http://news.bbc.co.uk/1/hi/business/6195198.stm more recent article about the US dollar decline
Originally posted by mrstabbyDid anyone else notice how this thread turned immediately to the be about the U.S. economy instaed of an actual debate?
It's showing how we always get these economic doomsday predictions. Paul Volker was Chairman of the Federal Reserve for a while, so you'd think he'd know what he's talking about.
A 75% chance of a currency crises within the next 5 years isn't outdated yet.
Edit: http://news.bbc.co.uk/1/hi/business/6195198.stm more recent article about the US dollar decline
Originally posted by PalynkaOutgrowing America for 6 months doesn't mean a lot. That's not exactly a long term trend.
Growth has been higher in the Eurozone than in the US for the last 6 months.
In March unemployment in the Eurozone reached its minimum [b]since 1993. Two weeks ago, the European Commission predicted it would fall even more.
I don't give a crap what economist Johnny (who?) has to say, as he clearly knows nothing about what he is talking about.
Oh, and neither do you if you think he's right.[/b]
My real question is, what are the unemployement numbers?