> But we're talking about a different type of crisis altogether. In
>the recent past, neoliberals have used crises abroad to convince confused
>populations and labor unions of the virtue and necessity of the "American
>model" -- however posited. Nowhere more so than in Europe, where it is
>impossible to exaggerate the demonstration effect of America's "economic
>miracle" in helping Third Way evangelists like Tony Blair persuade hesitant
>center-left folk to ditch outmoded second-wave policies. A crash that starts
>in America would have the opposite effect, at least ideologicaly.
Yeah, but a U.S. crash is not a foregone conclusion. Also, say the U.S. does crash, and the EU suffers recessionary fallout. What do you think would be the Euro-elite reponse? Boosting public spending? Acquiescing in raising wages? Or "belt-tightening" in the name of recovery? And who better to accomplish this agenda than the SocDems who run Europe? Ok maybe I'm lost in 1980s paradigms, but it'd be a mistake to rule it out.
Doug