The Good Life in Jeopardy

When the IMF, the ECB and the European Commission, when newspaper pundits and economists worldwide hammer on Greece to deregulate its economy to nurture growth, or laud Portugal for doing so, there are a number of things they forget. Yes, the organization of the Greek economy in an almost guild-like fashion curbs growth. Entrenched castes as varied as truck-drivers and notaries shield their inefficiently harvested 'turfs' from the public benefit. Opening everything up to exploitation by corporations may entail growth. It also opens the door for more low-wage labor to trickle in, and lowering standards of service. And very importantly, deregulation attack certain distinct and traditional features of the societies they seek to open up for trade. Of course, with the benefits of an advanced society come its burdens. And 'business as usual' is obviously not sustainable. There is a dire need for change in many European countries. But some things are uncountables. Not every country wants Sunday to be a shopping day. And Southern Europe enjoys its siesta, in whichever national form it takes place. Moreover, a fair society with advanced and efficient social security is not something Europeans are about to give up. Europe does not feel much like turning into the United States.

Some traditional aspects of European society need not be changed to enter into the global era. And the most obvious example of this is one of the countries that is vaunted about by economists for its efficiency: Germany. Germany has one of the most elaborate welfare systems in Europe. Moreover, its retail sector and domestic consumption economy are 'underdeveloped' by any benchmark. But Germany works very hard and Germany works very well. Which goes to show that margins for efficiency can be sought in a lot of places, and that it is up for Europeans themselves to decide where to find them. A pan-European dialogue on these issues has to be launched and it has to be launched now. Unless we want to chase after the hollow rhetoric of the 'American Dream'. If US citizens don't appreciate vacation and consumer protection they can work around the clock for all I care. If they do not care for universal education of any standards, affordable medical care, job security or social mobility that is their choice. They can be inefficient, throw money at wars, insurance companies, lawyers, financial institutions, have their two-tier society and be as rich and as poor as they want. But let's not impose that vision on Europe. Germany, Scandinavia, the Netherlands, Austria, Switzerland and so many European countries show where economics and a good life can co-exist. Let's make it work for all of Europe.