Maybe I should not have recommended the essay on democracy. I read it while playing with my boy. I am re-reading it now. And it has this:
“Plato’s great worry about democracy, that citizens would ‘live from day to day, indulging the pleasure of the moment,’ has proved prescient. Democratic governments got into the habit of running big structural deficits as a matter of course, borrowing to give voters what they wanted in the short term, while neglecting long-term investment. France and Italy have not balanced their budgets for more than 30 years. The financial crisis starkly exposed the unsustainability of such debt-financed democracy.”
WTF? No no no no no it has not! Both countries have entirely sustainable debt loads. Even given that they have abandoned their own currencies they have sustainable debt loads.
What in the name of God is the author talking about? The essay is a weird mash. Lots of good points, some subtle, with the occasional bizarroland statement that reads like it was tossed out there to make sure the Tories (and Republicans) keep reading.
By the way, Alex Harrowell, we still need you.