The big US companies, rich of cash, assail European industries from Astom to AstraZeneca: The different attitudes of the French and the British governments. And the old Italian policy of industrial dismantling.
Sadly the left hates to choose or decide priorities and tends to want to have everything at once. Now there is a chance to say poverty and inequality are giant evils that must be combatted.
Piketty provides a mainstream neoclassical explanation of worsening inequality. That creates a gattopardo opportunity whereby inequality is folded back into mainstream economic theory which remains unchanged.
The recession is the product of the politics of austerity, aggravated, in each country, by the fact that others were pursuing the same policies. What happened in Italy, or Spain, is a replica of what happened in Portugal, and especially in Greece.
La recessione è il prodotto della poltica di austerità, aggravata dal fatto che tutti i paesi stanno applicando la stessa poltica. Ciò che accade in Italia è la replica di quanto è successo in Spagna, Portogallo e specialmente in Grecia.
