March 16, 2004

EU Constitution

Speaking of the EU's drafted constitution, here is a good article written last year by Marian Tupy and Patrick Basham over at the CATO Institute. They say that the EU's constitution "is a product of 20th century welfare-state socialism."

Maybe I shouldn't worry so much if the following holds true:

The formal adoption of the EU constitution will result in one of two possible outcomes. Either the constitutional welfare provisions will be discretely ignored, because of their prohibitive cost and negative effect on European economic growth, or their enforcement will lead to even greater central government regulation of European social and economic life.

In the former outcome, the entire EU constitution will be devalued by overtly broken promises. The latter outcome will relegate the European economy to permanent second-class socio-economic status and thus postpone, perhaps indefinitely, the European dream of eventually rivaling American financial wealth, cultural influence, and political power.

Read the entire article...

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