Wednesday, November 19, 2008

Even Europe Doesn't Want to be Like Europe

Liberals embrace what Samuel Huntington referred to as a cosmopolitan view of American identity - meaning that we would be better off if we were more like Europe in terms of how we structure our tax base (eat the rich) and how much government interference we allow in our markets (a lot). President-elect Obama comes from the cosmopolitan school of thought.

This logic doesn't hold up, though, because now it is becoming apparent that even the Europeans don't want to be like Europe anymore, economically speaking. So why the heck should we embrace what they are tossing away? Steven Malanga points out that other nations around the world are starting to recognize the benefits of lower, simpler tax systems and smarter regulation. The downside is that it took Western Europe several decades to get wise and their not quite there yet. How long will it take American liberals to recognize they are simply flat out wrong about economic policy?

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