Academic

VICTOR DAVIS HANSON: Death of the Postmodernist Dream. ?As crises mount abroad and voters? anger?

By Glenn Reynolds

VICTOR DAVIS HANSON: Death of the Postmodernist Dream. “As crises mount abroad and voters? anger grows at home, Obama?s dream of a new world order has died a quiet death. . . . So the welfare state is discredited. In the past, we used to be warned that static population growth, vast public-sector employment, early and generous retirement benefits, and high taxes were not sustainable. In recent years, those lectures were caricatured as partisan or hypothetical. No longer. The Greek meltdown ? with Ireland, Italy, Portugal, and Spain on the brink ? has shown that European socialism does not work. Bankruptcy, not politics, is the final arbiter: Individuals, firms, and nations either buy particular bonds or they don?t. And a nation like Greece, in turn, either pays what it has borrowed or it doesn?t. All the op-eds in the New York Times cannot change that fact.”

Full post as published by Instapundit.com on May 26, 2010 (boomark / email).