There is a common thread in European responses to America’s troubles. It goes like this.
We always knew that unbridled free markets were a mistake, yet we were derided for saying this; and now we are all paying the price for your excesses. In the face of popular consternation at capitalist decadence, the activist state is newly in fashion—and Europeans are taking the credit for it.
Are they right? I am afraid we are moving in their direction in terms of government role in our affairs. Bureaucracy becomes bigger and bigger as we ask for more safety and comfort because we are not tolerating risk anymore. There is no going back.
Until another nation, possibly China, reminds us that we need to change.
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George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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