Paul Krugman is a wonderful asset for Americans, but he’s given us a special treat by applying his economic talents to Europe. In so doing he has found some fascinating parallels from history that should certainly give cause for concern. Here is his introduction.
A century ago, Europe tore itself apart in what was, for a time, known as the Great War — four years of death and destruction on an unprecedented scale. Later, of course, the conflict was renamed World War I — because a quarter-century later Europe did it all over again.
But that was a long time ago. It’s hard to imagine war in today’s Europe, which has coalesced around democratic values and even taken its first steps toward political union. Indeed, as I write this, elections are being held all across Europe, not to choose national governments, but to select members of the European Parliament. To be sure, the Parliament has very limited powers, but its mere existence is a triumph for the European idea.
But here’s the thing: An alarmingly high fraction of the vote is expected to go to right-wing extremists hostile to the very values that made the election possible. Put it this way: Some of the biggest winners in Europe’s election will probably be people taking Vladimir Putin’s side in the Ukraine crisis.
The truth is that the European project — peace guaranteed by democracy and prosperity — is in deep trouble; the Continent still has peace, but it’s falling short on prosperity and, in a subtler way, democracy. And, if Europe stumbles, it will be a very bad thing not just for Europe itself but for the world as a whole.
Why is Europe in trouble?…
Inserted from <NY Times>
Photo credit: Aljazeera (Click through for an excellent interactive breakdown of the parties by nation.)
Krugman goes on to explain how the 1% in Europe have hoodwinked Europeans into believing that austerity is the answer, much as Republicans did here, and that danger that extremist nationalism could emerge as it did in Germany after World War I. Click through. This is a must read.
Now, I don’t claim any expertise at all in European politics, beyond a fairly good understanding of the history. Keeping track of InsaniTEA here in the US is a full time job. However, seen in the light of history, Krugman’s analysis seems quite chilling to me. I look forward to seeing the views of our European friends.
12 Responses to “Europe in Crisis?”
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This is from a friend in Australia who follows all that stuff. I hope the link works.Frankly, it's not working for me, but I got it by email so I could read it anyway.
http://wellthisiswhatithink.com/2014/05/22/should-you-vote-for-ukip/
Good piece JD. It certainly lays out some the issues that the Brits are facing with the BNP and prompts questions to guide other people in their own localities/countries.
After reading Krugman's article it sounds like Timmy the Tool is dictacting monetary policy with Ben the banker Bernanke aiding and abetting him.
Excellent article (of course) by Paul Krugman – I agree with him, and especialy with this last paragraph
"It’s terrifying to see so many Europeans rejecting democratic values, but at least part of the blame rests with officials who seem more interested in price stability and fiscal probity than in democracy. Modern Europe is built on a noble idea, but that idea needs more defenders."
I don't know what is happening politically – the Right Wing (or Reich Wing) seems to be gaining strength with so many people, probably by emphasising hatred and misery and blaming others – it seems to be their stock in trade. I saw an article in the last month or so where academics had proved that when people have a false/stupid view of the world, arguing with them and proving them wrong actually makes their beliefs stronger – but it didn't suggest how we could combat that sort of stupidity – or should it be less a political position, more a credo?
There does seem to be a human desire to unite against a hate figure – but here they are choosing the wrong thing to hate! (Even 'Christmas Cracker jokes' – renowned for their seriously bad jokes, work because they unite the group against the bad joke….).
Seriously – does anyone out there know how to communicate with the seriously prejudiced and get them to see the light? Help!
Joanne, that article is excellent, and I agree with it. I have always voted Lib Dem – except this time when I voted Green in the European elections, as under Nick Clegg the Lib Dems have gone along with some truly appalling things and let them get into law, just (apparently) to stay in power. Even Vince Cable has been profoundly stupid – believing merchant bankers and selling off the Post Office for pennies, and taking their words that they wouldn't resell the shares immediately for billions profit (yes, of course they did!) – what an unbelievable gullible fool – yet he had been wise for years, how he could have believed them is beyond comprehension! Lib Dems (even their MPs!!!) used to have principles ….. sigh!
Most votes for councillors in Local Government elections are protest votes – and then as the article says, people go back to voting for whoever they generally vote for in the main elections. I wouldn't vote for UKIP if they were the last party on earth. Nigel Farrage (whose very surname is foreign – and whose personal appearance causes me distress) is anti foreigner – yet his highly paid secretary is his German wife!
Thanks, glad it worked. 🙂
Austerity has not been the solution for any government, although our Tea Party and Republicans seem to think it will be. I hope the EU survives without destroying their economy as ours has been.
As I read Krugman, my thoughts went back to post WWI Europe, specifically Germany. The Depression had a monumental effect and created a climate ripe for the rise of Nazi Germany. Hitler created a fascist state that pandered to fears and hatred of certain groups, ie Jews and Roma amongst others. When I thing of the BNP, I see some similarities. When I look at the US, I see some of the same problems with the Republicanus/Teabaggers.
In a film "Wakan Tanka" (clip posted to Care2 by Sheryl), David Suzuki said "All this talk about we`ve got to grow this economy, we`ve got to grow, grow, grow, is to say that we`ve got to accelerate what is a suicidal path. "
It seems that the right wing, whether in Europe, North America, the Middle East, or wherever, are taking the wrong path and only aggravating an already difficult situation.
Thanks all. Overslept!
Putine's approval ratings are in the 80 percentile with his land grabbing policies. Egypt got its new leader from the Islamic Brotherhood. Palistineans seem happy with its Hammas leadership. China is having its way with Tibet, an incursion into Vietnam, and letting some crazy kid threaten the world fron North Korea. Much of Africa is still run by murderous warlords. Iraq is falling back to its despotic ways. Our appointed Karsi is making Afghanistan more curroupt than ever. A neculear power like Pakistan harbors terrorists like Bin Laden. Cubans don't seem to want to get rid of their dying despot and will accept his brother instead of change. America seems to be headed for Republican majority and its "turn back time" policies. The EU seems a weak leadership leaving Europe in a similar situation to pre WW I. As the Soviet Union broke up ethnic tensions rose again. What is it the people of the world really want?
"Krugman goes on to explain how the 1% in Europe have hoodwinked Europeans into believing that austerity is the answer, much as Republicans did here,"
And so much for learning from past mistakes…