European cocial capitalism doesn't work any better than US capitalism. It just creates different winners and losers. Both will destroy any society, given enough time. I have lived in Europe for twenty years and in the US for thirty years, and each system has its own strength and weaknesses.
The underground economy is so huge in Europe because if many entrepreneurs were to actually do their business legally, they would go out of business within a short amount of time, given the employment laws, taxes and social charges.
The big winners in Europe are the ones who contribute the least to the economy: government bureaucrats--and I met lots of them and many were/are my friends.
The great losers are people with a vision and who are self-employed, small businesses. They work like dogs, pay huge amounts to the government and pray. I met lots of them and many were/are my friends and I saw their despair and pain.
Social capitalism kills the human spirit, as it punishes people who want to create. The system steals their energy to reward other sectors of society living in entitlement.
Social capitalism is like a protective mother that smothers her children so that they never have to face life on its own term. Accordingly, they never grow up.
Raw capitalism is like a harsh father than throws you in the wild at a tender age to fend for yourself. The heart closes, and that doesn't work either.
No existing system provides a real solution. We need to mature beyond these old paradigms.
Apr 27 2010 - 9:30pm