December 23, 2019

WHAT CRISIS?:

The Year Socialism Became a Dirty Word--Again (Flavia Krause-Jackson, 12/22/19, Bloomberg)

This year ends with the humiliation of the Labour Party in the U.K.'s Dec. 12 election and Germany's Social Democrats more unpopular than at any time in living memory. In Italy and Spain, the center-left are in government only thanks to precarious alliances with the anti-establishment groups that grew from the 2008 financial crisis.

For Jacob Funk Kirkegaard, a senior fellow at the Peterson Institute for International Economics in Washington, the malaise runs deep, indeed as far back as the Cold War era of the early 1970s. "There has not been a charismatic and genuine left-wing leader who made a true difference in Europe since Willy Brandt," who won a Nobel prize for building bridges between east and west and paving the way for German reunification.

The possibility of a Socialist revival was killed be the ease with which W, the UR and Ben rescued the world economy in '08-'09.





Posted by at December 23, 2019 12:00 AM

  

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