Originally Posted by
50PoundHead
Don't subscribe, so I can't read the article, but I believe the gist of it is correct. Markets can, but don't always, work and I think one of the problems in the Western European model is that they, like us to a lesser extent, are having trouble transforming their economies. They aren't to, and won't get to, Greece-level issues, but they have generous public benefit structure that will have to be pared back a bit along with a recognition that they have to compete in a global economy. I wonder how many of the market-based reforms are some sort of state capitalism.