European financial crisis: Is Europe a mess because Germans work hard and Greeks are lazy? – Slate Magazine.
Are Greeks Lazy?
Europe is a mess because Germans work hard and Greeks are shiftless. False!
Almost 150 years ago, the great English economic essayist Walter Bagehot pondered the problem of European monetary integration in the The Economist. At the time, Italy had just been unified in the wake of the Austro-Prussian War and it was clear that Germany, still divided into several separate political entities, was heading in that direction. How far would consolidation go, from an economic point of view? It was clear enough to Bagehot that a single European currency would never do, but two currencies might. Rather, he looked forward to a future in which “there would be one Teutonic money and one Latin money” and posited that “looking to the commercial activity of the Teutonic races, and the comparative torpor of the Latin races, no doubt the Teutonic money would be most frequently preferred.”
The language and reference to alleged racial differences between Latins and Teutons are outdated, but the basic economic claim remains.
Read the full story here: Slate Magazine
The Dwindling Power of a College Degree – NYTimes.com.
It’s the Economy
The Dwindling Power of a College Degree
By ADAM DAVIDSON
Published: November 23, 2011
The 2012 presidential election can be seen as offering a choice between two visions of how to return us to this country’s golden age — from roughly 1945 to around 1973 — when working life was most secure for many Americans, particularly white, middle-class men. President Obama said his jobs plan was for people who believed “if you worked hard and played by the rules, you would be rewarded.” Mitt Romney explained his goal was to restore hope for “folks who grew up believing that if they played by the rules . . . they would have the chance to build a good life.” But these days, many workers have lost a near guarantee on a decent wage and benefits — and their careers are likely to have much more volatility (great years; bad years; confusing, mediocre years) than their parents’ ever did. So when did the rules change?
Read the full story here: The New York Times
Two cheers for Germany – PostPartisan – The Washington Post.
By Harold Meyerson
Charles Lane has taken me to task for my repeated championing of the German economic model – a topic, he notes, to which I return as frequently as he does to electric cars. What’s the point of this German obsession, he wonders. Do I really think the United States can make the kind of structural changes to the economy that have served Germany so well? And do I really think we can do it quickly enough to help us find a way out of the Great Recession?
The short answer is No and No.[…]
Read the full story here: Washington Post
“Not only do Reconstructionists believe that public employees should not have the right to organize, they believe that almost all of them should not be public employees,” writes Julie Ingersoll, of the University of North Florida, in the Web magazine Religion Dispatches. “Most of the tasks performed by those protesting the Wisconsin state budget would, in the biblical economics of North,” be privatized.These “Reconstructionists” are believers in Christian Reconstructionism, the philosophy of R. J. Rushdoony, who died in 2001. According to Reconstructionism, a Christian theocracy under Old Testament law is the best form of government, and a radically libertarian one. Biblical law, they believe, presupposes total government decentralization, with the family and church providing order. Until that day comes, Reconstructionists believe the rights to home-school and to worship freely at least provide the barest conditions of liberty.
Read the full article here: Voice of Gary North Heard in Anti-Union Movement – Beliefs – NYTimes.com.
Niall Feguson’s term for the economic symbiosis between China and America.
seen in Welt online, Sept. 19,2010