Italy’s Moment of Truth
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  • Of course, the issue is that the current fiscal trouble is related to the recession and has absolutely nothing to do with labor market changes, no matter how desirable these may be, and no matter what comes out of the mouths of the international financial community.

  • Jbird

    Monti is starting to tackle the employment law which everyone knows is holding Italy back but those who benefit (older workers) will literally kill to maintain.

  • Jim.


    On average, people without children will not have sufficient sympathy for the young to resist creating a world that favors them over the next generation.

    Evidence for this situation is apparent in the policies of low-fertility countries, and in the ideas of such childless short-term thinkers as John Maynard Keynes.

    To correct this situation (and ensure the propagation of our culture, nation, civilization into the future) society should broadly encourage people to have kids, and take responsibility for their children. Society should further discourage going childless. This has the further advantage of sharing the time and money burden of raising the next generation more fairly.

    Otherwise, we’re going to end up with Wars on the Young, which will get uglier and uglier until they become Massacres of the Old.

  • Kris

    Most people agree that austerity measures alone will not solve Europe’s problems. Many “progressives” (Hello there, Krugman) even argue against them altogether. The only solution, it is said, is to grow the economy. Well, in the case of the proposed labor reform, we have measures meant specifically to foster economic growth. I am sure we can all get behind this, no?

    Nah! Don’t cut the budget, but rather increase it. Don’t dare make any reform that might negatively impact anybody. Tout va tres bien, Madame la Marquise!

    (One could tie this in to the earlier discussion about antisemitism. If one is so unable to face reality and unwilling to take responsibility for one’s actions, then the inevitable collapse must be blamed on someone, anyone.)

  • Kris

    [email protected]:

    For your entertainment, from Wikipedia:

    Joseph Schumpeter was an economist of the same age as Keynes and one of his main rivals. He was among the first reviewers to argue that Keynes’s General Theory was not a general theory, but was in fact a special case. He said the work expressed “the attitude of a decaying civilisation”. After Keynes’s death Schumpeter wrote a brief biographical piece called Keynes the Economist โ€“ on a personal level he was very positive about Keynes as a man ; praising his pleasant nature, courtesy and kindness. He assessed some of Keynes biographical and editorial work as among the best he’d ever seen. Yet Schumpeter remained critical about Keynes’s economics, linking Keynes’s childlessness to what Schumpeter saw as an essentially short term view.

    For the defense, one should note that the problem you note is not characteristic of Keynes so much as of those who take his name in vain. (Granted, the fact his theories are almost universally misapplied, must (in the long run ๐Ÿ™‚ ) reflect poorly on them as anything other than an intellectual exercise.)

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