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The Lesson Of The European Social Welfare System

You may remember in the darkest days of the financial crisis here in America some media types talking about how Europe, particularly Northern Europe didn’t seem particularly affected by the global recession. The reason commonly advanced for this seemingly contradictory state of affairs was that the automatic stabilisers built into the European economies kicked in as their economies started to crumble and kept money flowing to consumers thus preventing demand from falling off the same cliff it did in the US.<a href="http://www.istock tickeranalyst.com/article/viewarticle/articleid/4145772″>[More...]

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