Euros & Dollars: Explaining Europe’s Economic Stagnation, Part II
Economists have failed to explain Europe’s economic stagnation. Here is an explanation they have not considered.
Economists have failed to explain Europe’s economic stagnation. Here is an explanation they have not considered.
Finnish unions threaten to strike in February over government cuts to social benefits. They forget the massive, destructive government growth that took place 15 years ago.
The overall trend in the European economy points in the wrong direction. Therefore, it is a very bad idea to raise any taxes in the EU. It does not matter that the taxes the EU has proposed will fail to generate the revenue that the MEP tax grabbers are hoping for.
In practice, the merger between mainstream Keynesian economics and welfare-state policy was exactly what drove most of Europe into its current state of stagnation.
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