The European Union is an experiment in transnational socialism. The wealth of Germany, Europe’s most productive nation, is being “spread around” among nations that produce less and spend beyond their means. Good behavior is being punished and bad behavior rewarded. Violent riots are breaking out across Western Europe. But the people aren’t rioting for a solution; they are demanding continuation of what caused the problem.
Only private industry creates the wealth of a nation. Government consumes a portion of that wealth to pay for the services and benefits it provides its citizens. In socialistic Democracies like those of Western Europe the government portion grows slowly like a painless cancer until it threatens vital organs. Then it turns from painless to painful and that’s when riots erupt. The people deny the sickness while demanding a cure. That is where Europe is now.
It is difficult to create a common currency among sovereign nations whose cultures are as diverse as those of Greece, Germany and England, just to name three. The British recognized this and chose to keep their own currency. America is a nation of diverse people sharing one national pride. Whether you are from Maine, Iowa or Arizona, you consider yourself American first and a Mainer or Iowan second. Not so in Europe. A Frenchman considers himself French, period. A European citizen feels no pride in being a member of the European Union in the way an Iowan farmer is proud to be an American.
The Euro was vying to replace the Dollar as the standard currency for international trade only months ago. Now it is apparent the chances for that to occur are dim. It would take a profound change in the diverse national cultures within the Euro zone to build the base required to make the Euro as solid as the dollar. It didn’t happen over the last thousand years. It won’t happen over the next thousand either.
America’s race to embrace socialism has been thwarted. Now it needs to be reversed lest we end up in the tank with Europe. We have time. We can do it.