Europe Basks as U.S.-Style Capitalism Draws Fire

Posted by Kendall Harmon

For years, Europe's more-regulated model of capitalism has been maligned by many economists as a study in second-rate market economics. Now, as world leaders seek a way out of the crisis -- and aim to avoid repeating it -- U.S.-style capitalism is under siege and the European model is getting another look.

America may be stealing a glance across the Atlantic. In Washington, the Senate is gearing up for a debate next week on its version of the $819 billion economic stimulus package the House passed Wednesday.

"President Obama," Mr. Barroso said, "is moving toward a European-style model." Mr. Barroso, who runs the executive arm of the 27-nation European Union, cited the new administration's aim to boost health-care coverage, access to student loans and public-infrastructure spending as examples of the U.S's emerging European tilt.

Read it all from yesterday's Wall Street Journal.

Filed under: * Economics, PoliticsEconomyThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in General* International News & CommentaryAmerica/U.S.A.Europe

7 Comments
Posted January 31, 2009 at 9:30 am [Printer Friendly] [Print w/ comments]



1. The_Archer_of_the_Forest wrote:

Well, last I checked, the European market is not doing much if any better than the American system, and it’s still as stagnant as it ever was.

January 31, 11:20 am | [comment link]
2. Katherine wrote:

The U.S. unemployment rate, high as it is, is not yet, I think, as high as the normal German rate for the past few years.  The idea that Europe is better is a bit silly.  Give us all the European-style soft socialism and we, too, will have more chronic unemployment and less innovation.

January 31, 1:09 pm | [comment link]
3. Br. Michael wrote:

If the European economy is doing so well why are the French striking?

January 31, 4:05 pm | [comment link]
4. Dilbertnomore wrote:

“President Obama,” Mr. Barroso said, “is moving toward a European-style model.”

If the President succeeds in this misplaced venture we are well, truly and thoroughly screwed. The only salvation will come if all the rubes who bought the ‘hope and change’ jingle conclude Mr. Obama’s soothing words don’t really translate into the Nirvanna the rubes understood them to be. The answer for Mr. Obama, of course, is to move quickly to secure control over the instruments liberty - privately owned and controlled communications, guns and finance - before the rubes wake up to what is happening to them.

January 31, 4:59 pm | [comment link]
5. Dilbertnomore wrote:

“President Obama,” Mr. Barroso said, “is moving toward a European-style model.”

If the President succeeds in this misplaced venture we are well, truly and thoroughly screwed. The only salvation will come if all the rubes who bought the ‘hope and change’ jingle conclude Mr. Obama’s soothing words don’t really translate into the Nirvanna the rubes understood them to be. The answer for Mr. Obama, of course, is to move quickly to secure control over the instruments liberty - privately owned and controlled communications, guns and finance - before the rubes wake up to what is happening to them.

January 31, 5:00 pm | [comment link]
6. Franz wrote:

Well, you all beat me to it. 

As much of a mess as our economy is right now, I think that, if things were not messed up too badly by those holding the reins of power, we’d recover a lot faster than Europe. 

But, as y’all have observed, with Dems in the White House and controlling the Congress, we might not have a chance to find out.

January 31, 7:20 pm | [comment link]
7. chips wrote:

Doesnt the Euro zone include now former communist countries that have been moving towards capitalism. Americans would riot if our normal unemployment rates resembeled Europe.
And yet still most folks do not realize that the lack of supervision in the lending system was rooted in government social policy. The disadvantaged were to be brought into the economy on a scale never before seen - it has nearly brought capitalism to its knees.

February 1, 6:35 pm | [comment link]
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