'He is just making it up as he goes along...so he has to reach further and further into fantasy.' – Economist Richard Wolff
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Economics professor Richard Wolff appeared on Democracy Now on Monday and gave Bill O’Reilly an intellectual smackdown. Bill O’Reilly, in his “Talking Points Memo” had said:
Bill O’Reilly: “Greece, Italy, Spain, Portugal, Ireland, now Cyprus, all broke. And other European nations are close. Why? Because they are nanny states. And there are not enough workers to support all the entitlements these progressive paradises are handing out.”
The economics professor’s rebuttal on Democracy Now was epic:
Economic Professor Richard Wolff: You know he gets away with saying things which no undergraduate in the United States with a responsible economic professor could ever get away with. If you want to refer to things as nanny states, then the place you go to in Europe is not the southern tier, Portugal, Spain, and Italy. The places you go are Germany and Scandinavia, because they provide more social services to their people than anybody else.
And guess what, not only are they not in trouble economically, they are the winners of the current situation. The unemployment rate in Germany is now below five percent. Ours is pushing between seven and eight percent.
So, ah, please get your facts right, Mr. O’Reilly. The nanny state you call it; the program of countries like Germany and Scandinavia who tax their people heavily by all means, but who provide them with social services that would be the envy of the United States, a national health program that takes care of you whether you are employed or not and gives you proper healthcare.
In France, for example, the law says when you go to work you get five weeks paid vacation. That’s not an option, that’s the law. You get support when you are a new parent, childcare and so forth.
They provide services and they are successful in Germany and Scandinavia, much more than we are in the United States; and much more than those countries in the south.
So they are not broke in the south because they are nanny states, since the nanny states par excellence are doing better than everyone. The actual truth of Mr. O’Reilly is the opposite of what he says. The more you do nanny state, the better off you are during a crisis, and to minimize the cost of the crisis. That’s what the European economic situation actually teaches. He is just making it up as he goes along to conform to an ideological position that is harder and harder for folks like him to sustain so he has to reach further and further into fantasy.