Wednesday, January 15, 2014

Kevin O'Rourke on Hollande's Reival of Say's Law and the Hara-Kiri of the European Left

Thanks to James Conran for this link.


Mitch Guthman said...


Between what was said by you yesterday and this piece by Kevin O’Rourke, I really don’t know what else can be said. I would also strongly recommend clicking through to the article by Martin Wolf. I think he is absolutely right about the political ramifications of this idiocy and he says it brilliantly.

I would also recommend clicking through to the article by Ambrose Evans-Pritchard. The portion quoted by O’Rourke is very perceptive and the entire article is worth reading. More importantly, if you think for a moment about who Evans-Pritchard is and where his article is being published, it should give you pause for thought. There's a very clear and direct line from the point Evans-Pritchard is making and the warning that Martin Wolf's is sounding.

I think Martin Wolf’s warning of the political dangers of Europe’s continuing on its present course needs to be taken very seriously. The last time we followed this economic philosophy to its conclusion, we nearly burned the world down to the ground. It is astonishing that the Germans, in particular, seem to have learned nothing from the bloodletting that was the Second World War---they seem determined to repeat every mistake that brought Hitler to power.

brent said...

The only trouble with this otherwise pungent article is that for some reason O'Rourke confuses Hollande with 'the Left,' even while making clear that his policies are strictly center-right. What Hollande is actually doing is clearing a space for the Left--as is Letta in Italy, the SPD, as did Clinton and Blair in their day, and Obama in ours. Trouble is, the voters don't seem to want to engage with the real Left, but would prefer, as Wolf fears, a robust, vitriolic, bellicose Right rather than Hollande's obfuscatory version. Dark days.