Posts tagged with: eu

Acton’s Director of Research and author of Becoming Europe, Sam Gregg, will be on TheBlaze TV tonight at 6 p.m. EST. The discussion will focus on the current economic situation in Cyprus, where some officials are saying bank depositors could lose up to 40% of their savings. Gregg’s book focuses on Europe’s entitlement culture, heavy taxation, government-regulated markets and over-bearing bureaucracy. He asks the question, “Is this America’s future?”

Is the current situation in Cyprus simply a sign of the times, or a sign of increasingly ugly things to come? Tune in tonight at 6 p.m. EST to watch the discussion.

Blog author: jballor
Tuesday, November 2, 2010
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The title of this post borrows from a phrase I employ in the conclusion of tomorrow’s Acton Commentary on the prospects for austerity in America after today’s mid-term elections. (I can’t claim to have coined the term, since about 4,270 other instances of the phrase show up in a Google search, but I like it nonetheless.)

Today I’ll simply highlight a few of the relevant stories that I’ve noted on this theme over recent weeks and months.

As Samuelson notes, austerity is by its very nature unpopular. Speaking of the dilemma facing governments, he writes, “Without unpopular spending cuts and tax increases, unmanageable deficits may choke their economies.”

Tomorrow I’ll discuss the treatment of austerity as a leitmotif in the writings of Paul Krugman, who most recently dubbed austerity proponents “moralizers.” The significance of this will be made more clear tomorrow in relation to my commentary, “‘A’ for Austerity: The New Scarlet Letter.”

Despite all the hoopla surrounding the 50th anniversary of the Treaty of Rome, all is not well with the dream of a united Europe — at least as it’s envisioned by the political class and Brussels technocrats. In addition to its ongoing economic malaise, the European Union still seems unable to fully acknowledge its cultural, religious and political roots. “People who suffer from amnesia have great difficulty making sound choices about the future because they do not know where they have come from,” Samuel Gregg writes. “The same is true for Europe.”

Read the full commentary here.