Friday, December 03, 2010
More from Joschka Fischer on what's at stake in the future of the European UnionThis is an earlier article from Joschka Fischer than the one I quoted yesterday. But it gives a good reminder that a depression of the kind the world economy seems to have entered can have far-reaching consequences, though he lists some qualitative differences between today's situation and those of the Great Depression of 1929. And he continues (Our Post-Modern Crisis Project Syndicate 05/31/2010):
For all these reasons, the global crisis will not be devastating in the same way as the Great Depression was. Indeed, our current predicament has all of the hallmarks of a "post-modern" crisis. But we need to ask ourselves where and how the energies unleashed by this crisis will be discharged, because there can be no doubt that they will be discharged one way or another. After all, the evidence so far suggests that the crisis is here to stay for a long time, with unforeseen eruptions, such as the recent adversity in Greece and surrounding the euro, as well as inflation, stagnation, and populist rebellion.Maybe we should be calling this the Postmodern Great Depression.
Tags: european union, recession, joschka fischer
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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