For my economics-savvy friends…

… and I have a few…

Tell me something.

Greece. Italy. Portugal. Et cetera. All that economic shit-storm stuff that is happening in those corners of the planet…

I see the main root of the problem being the consequence of horribly enforced tax collection regimes. Tax evasion has been a hobby in these countries – and this is documented widely. But until recently, all levels of government in these nations have turned blind eyes to this.

And… some of these nations have been ruled by left of centre parties for a while, so and the nations’ monetary and fiscal policies have reflected this.

So my question – is the sorry state of these nations’ economies the result of socialist monetary and fiscal policy – or poor revenue management? I’ve seen it blamed on both…

What say you?

(1041)

Be Sociable, Share!

3 Comments to “For my economics-savvy friends…”

  1. I’d say both.

    One of the problems with socialist policies is that everyone thinks everyone else should pay for the plans… typically “the rich”, but if you ask who “the rich” are, nobody can define it exactly but it definitely includes only those people with more money than whoever you’re asking.

    The NDP, when they ruled Ontario, more-or-less defined it as “anyone with a job that makes more than minimum wage” based on the tax structure they brought in.

    In any case, people demand government services, handouts, protections, gimmes, and entitlements, but bust the balls of any politician who dares suggest that those things come with a price tag. So they borrow the money. And just like anyone who uses a credit card irresponsibly, the inevitable happens…

    … and people get a weed up their arses.

    It’s a culture of entitlement that causes it. Good governments manage it to a greater or lesser degree, but until the attitude of people changes, this is an economic show we’re going to see in re-runs for a long time.

  2. thwap says:

    It wasn’t socialism.

    Iceland and Ireland weren’t socialism.

    Greece had a right-wing gov’t from 2004-2009: http://en.wikipedia.org/wiki/Kostas_Karamanlis

    Italy has been under right-wing Berlusconi for even longer.

    Spain’s problems have to do with a real-estate bubble: http://www.guardian.co.uk/commentisfree/cifamerica/2010/mar/08/financial-crisis-subprimecrisis

    • trashee says:

      Agreed. What I wanted to see was if I there was something I missed… cuz lots of extreme right-wing pundits are swiping aside the problems with the explanation: “blame the Socialist governments”!

      Thanks for the input!

Leave a Reply

*