Friday, June 25, 2010

Uncomfortable truths

Here are some truths that you will not like. The US retains pride in its free market can-do spirit while practicing welfarism as soon as anything goes awry. Europe preaches taking care of everybody but makes sure its market institutions stay solvent when the weight of public spending begins to threaten competitiveness. Citizens take pride in their difference, even when indicators of public spending/GDP, poverty rates, growth rates, are all pretty similar. I guess it comes down to whether you would rather pretend to be self reliant as you get bailed out or pretend that you're taking care of everyone when you're not.