learn from history - Comment - Israel News | Haaretz Daily Newspaper
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    • Victornz
    • 10.11.10 | 01:09 (IST)

    Mr Shtrasler The policies you advocate were pursued across the world in the 1920s and early 1930s. The results were economic catastrophe and the rise of Fascism. The policies espoused (in a very moderate form) by Mr Obama and other Social Democrats (known perversely as 'Liberals' in the United States) were applied throughout the Western world (by both left and right) in the 1950s and 1960s. They produced unprecedented affluence, opportunity and security for the overwhelming majority of people. The United States and the United Kingdom, both of which have espoused fervent free-market policies over the last 30n years, are now deep in the mire. Countries, such as Germany, with a more balanced policy mix are doing considerably better. Meanwhile, the economic center of the world is moving to East Asia, where government has all along been a significant participant in economic development.

    from the article: The alchemist (II)
    First published 01:03 09.11.10 | Last updated 01:03 09.11.10
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