{"id":9419,"date":"2015-06-25T06:06:32","date_gmt":"2015-06-25T11:06:32","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9419"},"modified":"2015-06-25T06:06:32","modified_gmt":"2015-06-25T11:06:32","slug":"greece-illustrates-150-years-of-socialist-failure-in-europe","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9419","title":{"rendered":"Greece illustrates 150 years of socialist failure in Europe"},"content":{"rendered":"<h3><span class=\"blue\"><a href=\"https:\/\/mises.ca\/posts\/blog\/greece-illustrates-150-years-of-socialist-failure-in-europe\/\" target=\"_blank\">Greece illustrates 150 years of socialist failure in Europe<\/a><\/span><\/h3>\n<p>Greece cannot pay its debts\u2026ever. Nor can several other members of the European Union. That\u2019s why Europe\u2019s elite are loath to place Greece in default. If Greece is allowed to abrogate its debts, why should any of the other debtor members of the EU pay up? The financial consequences of massive default by most of the EU members is hard to predict, but it won\u2019t be pretty. Europe has built a financial house of cards, and the slightest loss of confidence will bring it crashing down.<\/p>\n<p>The tragedy of Europe has socialism at its core. Europe has flirted with socialism since the late nineteenth century. Nineteenth century Bismarckian socialism produced two world wars. Leninist socialism slaughtered and enslaved hundreds of millions until it collapsed, mercifully without a third world war. Yet, not to be deterred, in the ashes of World War II Europe\u2019s socialists embarked on a new socialist dream. If socialism fails in one country, perhaps it will succeed if all of Europe joined a supranational socialist organization. Oh, they don\u2019t call what has evolved from this dream \u201csocialism\u201d, but it is socialism nonetheless.<\/p>\n<p>Socialism will not work, whether in one country, a multi-state region such as Europe, or the entire world. Ludwig von Mises explained that socialism is not an alternative economic system. It is a program for consumption. It tells us nothing about economic production. Since each man\u2019s production must be distributed to all of mankind, there is no economic incentive to produce anything, although there may be the incentive of coercion and threats of violence.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greece illustrates 150 years of socialist failure in Europe Greece cannot pay its debts\u2026ever. Nor can several other members of the European Union. That\u2019s why Europe\u2019s elite are loath to place Greece in default. If Greece is allowed to abrogate its debts, why should any of the other debtor members of the EU pay up? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,200,279,284,1167,4270,966,6058,2799],"class_list":["post-9419","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-default","tag-eu","tag-european-union","tag-greece","tag-lenin","tag-ludwig-von-mises","tag-mises","tag-socialism"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9419"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9419\/revisions"}],"predecessor-version":[{"id":9420,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9419\/revisions\/9420"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}