Differences in the ways people live are only partly determined by income. They’re also determined by the levels of government services provided to everyone.
Expect life expectancy in Greece and other austerity-hit countries to drop in coming years. Suicides are only the first symptom of austerity syndrome. The worst is yet to come.
Austerity is going to make Greece a cheap place to visit once the protests die down, and backpacker adventure tourists will make Greece a cooler destination than ever. But for most people, it’s much better to live in a rich social democracy than in a cool adventure tourism destination.
The fundamental problem in the eurozone isn’t Greek debt or Spanish banks. It’s low German wages.
Europeans must decide whether their societies are to be governed by the people, for the people or by the market, for the market.
As the economic news in the United States gets worse and worse every week, a lot of Americans are saying “at least we’re not Europe.” To read the press accounts, it sounds like Greece is plunging Europe into a second Great Depression. Greece is having trouble paying its debts, and many people are worried that [...]