Saturday, April 26, 2014

A feature, not a bug

Based on a comment I made here.

In the EU, lack of accountability is a feature, not a bug. If you claim that nationalism is the great problem of European history, and define nationalism as a popular passion, then blocking responsiveness to popular passion becomes "the solution". Which is nonsense, the great problem of European history is unaccountable power, not "nationalism" as such. Precisely which problem the European Central Bank (ECB) is demonstrating daily.

2 comments:

  1. Lorenzo
    Interesting observation in Scott´s latest at Econlog:
    "On the other hand, the explanation of "nationalism" might lead policymakers to create cooperative multinational structures such as the (pre-euro) European Union. Indeed it's widely believed that the folly of nationalism was an important lesson of WWII, and a factor in the creation of the EU."

    http://econlog.econlib.org/archives/2014/04/a_pragmatic_vie.html

    ReplyDelete
    Replies
    1. Thanks, I have commented over there.

      Delete