The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Never mind. As Ludwig Erhard, when Finance Minister in the '50s, said of the "Social Market": "The market is social".
Friends come and go. Enemies accumulate.
Because growth for the 1% is the only growth that matters.
Even if the wider economy is in a depression, as long as income is rising for the 1%, everything is happening as it should.
Then, there are the international causes of the crisis affecting the euro. Of course, it is easy for the United States Secretary of the Treasury to talk about the euro crisis forgetting his own deficit and the domination of the dollar. But the international causes of the euro crisis still exist. It is, of course, due to the excess of financial ideology. I will quote you a single sentence that shocked me when I was talking to a leading French banker, who said to me: "Jacques Delors, you understand nothing, the creation of value is essential". "And what is the creation of value?" I asked him. I did not wait for his answer, as I already knew it: it is the increase in stock market prices. We are a long way from the Schumpeterian entrepreneur and the economic moral doctrine of Max Weber. For years we lived with this ideological euphoria and the Commission services were not insensitive to it. After all, to sum up, finance was the queen of the game and capitalism worked well, provided that employees accepted to be mobile and to earn less. That was their system. Such are the international causes of the euro crisis.
by Frank Schnittger - Nov 19 23 comments
by Frank Schnittger - Nov 7 82 comments
by Frank Schnittger - Oct 25 20 comments
by Cat - Nov 3 20 comments
by gmoke - Oct 31 5 comments
by Frank Schnittger - Oct 28 17 comments
by Frank Schnittger - Nov 1923 comments
by Oui - Nov 161 comment
by Oui - Nov 162 comments
by Oui - Nov 89 comments
by Frank Schnittger - Nov 782 comments
by gmoke - Nov 6
by Cat - Nov 320 comments
by gmoke - Oct 315 comments
by Frank Schnittger - Oct 2817 comments
by Frank Schnittger - Oct 2520 comments
by Cat - Oct 2127 comments
by Frank Schnittger - Oct 1779 comments