"... unemployment rates range from 8 per cent to 12 per cent in many countries with First World Parliaments.
...
"Had we a First World Parliament, would we honestly have got out of the recession as fast? Or would it have seen us still arguing while we slipped into a second recession, let alone got out of the first?"
From Paul Krugman's New York Times column:
"The idea is that we got into this mess because voters wanted something for nothing, and weak-minded politicians catered to the electorate’s foolishness.
"So this seems like a good time to point out that this blame-the-public view isn’t just self-serving, it’s dead wrong.
"The fact is that what we’re experiencing right now is a top-down disaster. The policies that got us into this mess weren’t responses to public demand. They were, with few exceptions, policies championed by small groups of influential people — in many cases, the same people now lecturing the rest of us on the need to get serious."
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