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China Wins in Western Meltdown
Andy Langenkamp, RealClearWorld
Europe and the U.S. are under pressure from unsustainable debts created by the baby boom generation. After the Second World War they have come to take for granted an ever higher standard of living that was only possible on the back of the accumulation of debt and generous provision of social security. The capitalist-democratic model has created a society in which people lay claim to wealth without having to sometimes forego an increase in wealth today in order to guarantee welfare and prosperity in the long run. Nowadays, politics and economics have one thing in common: they are both geared...
Europe and the U.S. are under pressure from unsustainable debts created by the baby boom generation. After the Second World War they have come to take for granted an ever higher standard of living that was only possible on the back of the accumulation of debt and generous provision of social security. The capitalist-democratic model has created a society in which people lay claim to wealth without having to sometimes forego an increase in wealth today in order to guarantee welfare and prosperity in the long run. Nowadays, politics and economics have one thing in common: they are both geared...
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