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As we wait to see if or when Europe suits up for another Middle Ages partisans on our shores watch it through the prism of this election year’s central economic debate: Can more public spending save an economy?
Opposing sides of this quarrel see very different reasons for Europe’s troubles.
“Austerity: savage spending cuts in an attempt to reassure bond markets. Yet as any sensible economist could have told you (and we did, we did), these cuts deepened the depression in Europe’s troubled economies, which both further undermined investor confidence and led to growing political instability.”
“Workers across the Continent want great lifestyles without long work hours. They want dynamic capitalism but also personal security. European welfare states go broke trying to deliver these impossibilities.”
“Re-makes and Re-hashes”
Terry Gilliam nails Hollywood (and beyond?). The film maker and former Monty Python member says it is tougher than ever to get studio backing for creative movies:
“The longer you keep churning out this production-line crap, the more audiences are going to like it—and need it. There’s an element of security provided by re-makes and re-hashes. We’re at the stage where audiences just want to know that everything will be the same. Maybe it’s because the world has become so diffused and unclear that people just want to go back to what they know over and over again. People need to reassure themselves that Spider-Man can still do the things he’s always done.” –The Economist
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