I saw an article today written by Paul Krugman recently titled “Why the Euro Could be Doomed” and there was a part of this article that stood out to me as self evident on a larger issue. In this article Mr. Krugman writes:
“The tragedy of the Euromess is that the creation of the euro was supposed to be the finest moment in a grand and noble undertaking: the generations-long effort to bring peace, democracy and shared prosperity to a once and frequently war-torn continent. But the architects of the euro, caught up in their project’s sweep and romance, chose to ignore the mundane difficulties a shared currency would predictably encounter — to ignore warnings, which were issued right from the beginning, that Europe lacked the institutions needed to make a common currency workable. Instead, they engaged in magical thinking, acting as if the nobility of their mission transcended such concerns.”
Does this not perfectly apply to not only the Euro but to liberalism and socialism itself? Substitute the word Socialism for the word Euro and it fits perfectly.
It was “supposed to be the finest moment in a grand and noble undertaking“…. but the “architects of socialism [were] caught up in their project’s sweep and romance.….instead they engaged in magical thinking” …. as they continue to do so today I might add.
If only Paul Krugman would apply this same logic to so many other areas of life and social politics.
Magical thinking ha!