Sunday, May 6, 2012
Francois Hollande’s
victory doesn’t and shouldn’t mean a movement toward socialism in Europe
or elsewhere. Socialism isn’t the answer to the basic problem haunting
all rich nations.
The answer is to reform capitalism. The world’s
productivity revolution is outpacing the political will of rich
societies to fairly distribute its benefits. The result is widening
inequality coupled with slow growth and stubbornly high unemployment.
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