13 December 2011

Article: Depression and Democracy

Erich Kofmel - Google+
Article: Depression and Democracy

Paul Krugman, Nobel Prize-winning Princeton economist, warns of anti-democratic tendencies in Europe in his latest syndicated "New York Times" column, dated 11 December 2011, "Depression and Democracy".

Excerpt: "Leaders and institutions are increasingly discredited. And democratic values are under siege. ... Not surprisingly, the loss of faith in democracy has been greatest in the countries that suffered the deepest economic slumps. And in at least one nation, Hungary, democratic institutions are being undermined as we speak ..., all this amounts to the re-establishment of authoritarian rule, under a paper-thin veneer of democracy, in the heart of Europe. And it's a sample of what may happen much more widely if this depression continues."

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