Richarddwolff
@richarddwolff·355K subscribers·501 videos
Why Europeans Fight "Austerity" More Successfully than Americans - Professor Richard D Wolff
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December 11, 2011
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6:27Now PlayingPUBLISHED ON OCTOBER 16, 2011
In Europe, as in the US, governments are seeking to shift the cost of the global economic crisis onto the mass of people by cutting public employment and public services. However, the levels of those services in Europe are far higher than in the US and their governments are cutting far less than in the US. What accounts for these differences are mass organizations. In Europe the anti-austerity movement is led by the labor unions and large sections of large socialist parties, significant communist parties, and various other anti-capitalist and green parties. These institutions have not suffered the declines that have afflicted their US counterparts over recent decades. Hence, they can and do fight back against and sharply reduce the size and pace of austerity inflicted upon Europeans.
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