The OECD countries with persistently high unemployment rate are the European welfare states – about double figures for 2 decades or more now. The reality is progressive politics pits workers against worker, and the middle-class against the poor and rich with the progressives cheering for the middle-class.
Euroland has a labour aristocracy – a two-tier system with ultra-secure workers with the permanent jobs and vulnerable temporary workers. The prime-age workers with the permanent jobs are pitted against the young, the unemployed and the older workers – these three groups are either locked-out or pushed-out. It took the equally worse recession in U.S. post-war history for their unemployment rates to reach the levels in Euroland in most any year out of the last 20.
Progressive solutions have been tried and they failed: a new word had to be invented to capture the resulting high unemployment rates and stagnant productivity growth from adopting progressive policies: Eurosclerosis!
Utopia, you are standing in it! 
Recent Comments