Tuesday, June 21, 2016

The European Union Is 
A Slow Motion Collision
"The European Union has become a slow motion collision between magical thinking and wishful thinking. The project is a mirror favoring selective vision, in which observers of whatever background or political stripe see deeply what they want to see but are blind to the project’s more obvious failings. Pacifists see a social construct that has kept peace between Europe’s various warring factions – notably France and Germany – for over half a century, but fail to notice, or for that matter much care about, the youth unemployment rates in the periphery of the euro zone. Advocates of free movement praise Schengen and turn a blind eye to the bodies of immigrants washing onto the shores of Greece and Italy. Supporters of Big Government see a political union that is already huge and continuing to expand, and pay scant heed to the rising cost of regulation that others must bear. Fans of bureaucracy – typically quasi-monopolistic big businesses and the ever-popular banks – see an integrationist scheme that raises the barriers to entry against smaller competitors and engulfs them in red tape, but they ignore the decline in relative economic power, whereby the EU of 1980 accounted for 30% of the world economy, while a much larger EU (by population) accounts for just 17% of world trade today. For those at the top of the pile who suckle off the teat of the State or the multinational, life is good."
- Tim Price
link here to the PDF

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