In these countries [France, Italy, and Germany], a class accustomed to security — those with traditional jobs ending in generous retirement plans — opposes any effort to change the system. Economists may warn that the very system is one reason that unemployment, particularly youth unemployment, has soared, and that pressures of globalization mean that Europe must eventually change to prevent its growth from faltering even further. But many voters seem to prefer delaying that as long as possible. (Washington Post, Tuesday)
It's either radical liberalization or conversion to a theme park.
FEE Timely Classic
Is There an Anglo-American Economic Model? by Christopher Lingle