Is ''European Socialism'' responsible for the global recession?

[AshiusX]

Everyone keeps repeating this. And saying if those damn European only have chosen American style Capitalism this wouldn't have happened? Is this true?

[GiantMonkeyMan]

The current recession emerged after the housing bubble in the US burst leading to the financial crisis we experience today exacebated by the slow recovery forced upon us by austerity measures. While nowhere in Europe is actually socialist (except in that ignorant way some press on the right call a capitalist welfare state 'socialist') it is interesting to note that those countries with pronounced welfare states, such as Sweden and Norway, have been relatively sheltered from the economic troubles, as well as Germany which is unique in Europe for its large manufacturing industry.

[cynicles]

Don't forget all that cheep east German labour from unification.

[Robespierres Neck]

Socialism in Europe? :confused:

[hetz]

No.

[Blake's Baby]

Everyone keeps repeating this. And saying if those damn European only have chosen American style Capitalism this wouldn't have happened? Is this true?

"Everyone"?

Funny, "everyone" I hear says over and over again that it was irresponsible American-style casino capitalism that caused it, and if only America had a more sensible dose of European-style capitalism (no-one in Europe thinks Europe is socialist) then it wouldn't have happened.

Oh, sometimes they blame the Greeks for being lazy and corrupt. But that can hardly have brought down the entire world economy (starting with the US sub-prime mortgage crisis) now could it?

Of course, both views are bullshit because capitalism is an inherently unstable system that must manifest crises. No matter whether you deregulate your labour markets or provide a social safety-net, crisis will break out. It's a bit like arguing about the colour of a boat as it's sinking.

[jookyle]

Because Americans no absolutely nothing about political science (even the most basic of basic concepts) they call social democracy: socialism.

[Workers-Control-Over-Prod]

No (http://www.revleft.com/vb/european-crisis-heart-t174495/index.html). Late Neo-Liberal Capitalism is responsible for the global Capitalist Crisis.

[bad ideas actualised by alcohol]

Socialism in Europe? :confused:

Damn, how could I not have noticed this?
Here am I struggling for socialism when I was living in it all along.
Sneaky bastards!

[rednordman]

Because Americans no absolutely nothing about political science (even the most basic of basic concepts) they call social democracy: socialism.Oh yes. To americans, Social Democracy = socialism = communism = evil backward European continent....no shit!

[ComradeOm]

Don't forget all that cheep east German labour from unification.From an older post:

Reunification did not lead to a "low wage export economy". Productivity in the East was significantly lower than in the West while the inflated conversion rate between the two Marks kept wages in the East artificially high. German exports actually fell during the early/mid-nineties as West German firms re-geared to capitalising on the new internal (ie East German) market while the immense costs of reunification took a decade to pay dividends in the form up upgraded infrastructure and plant in the East