The Technocratic Nightmare – NYTimes.com
November 19, 2011 § Leave a comment
The mess threatens to bring down the European project and European economies. It threatens to send the world into another global recession. (At this point, Chancellor Angela Merkel has more influence over President Obama’s re-election chances than Obama himself does.)
On a superficial level, the fault lies with the current European leadership, their addiction to inadequate patches and fudges. But the real problems emerge from the technocratic mind-set, from the arrogant gray men who believe they can engineer society, oblivious to history, language, culture, values and place.
And the final curse is that while building Europe in this way was a mistake, Europeans cannot now simply reverse course. If the euro was immediately dissolved, the Deutschmark would surge, nearly every other currency would plummet and the imbalances would create a global catastrophe.