They Do Not Dither in the Voting Booth

Posted by: Tom Keene on November 21, 2011

Fiscal problems in Europe can be solved. Large adjustments based on the spending side work, they are not recessionary and are not the kiss of death for the governments implementing them. It can be done. If the fiscal crisis in Europe worsens, threatening the world recovery, we will know whom to blame: the current leaders of Europe.

The Electoral Consequences of Large Fiscal Adjustments, Alesina, Carloni and Lecce, VOX.eu, 29 May 2010.

This was one of my favorite essays of last year. It bears re-study as Spain “enjoys” a new government.

We are beginning Davos planning. Last year was The Davos of Our Discontent. This year, maybe, The Davos That Dithers.

When does this stop? This charade of meetings and headlines from meetings that insist on not speaking to…the people.

Pick your date for the advent of modern democracy. Read Kissinger’s majesterial Diplomacy, or the Global Political Economy of your choice. Read Jerry Z. Muller’s authoritative The Mind and the Market.

1848 anyone? I was honored to stand with Otmar Issing overlooking Frankfurt as he described the importance of the Paulskirche to continental democracy.

The politicians (on both sides of the Atlantic) need to get in touch with a silent and crisis-exhausted majority.

The politicians need to start listening, soon and hard, to the Alesinas and Issings and Charles Wyploszs of the world.

The politicians need to find courage, courage that can only come from feeling and fearing the contagion in the voting booth. They are not dithering in the voting booth. Discuss.