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Who the welfare state protects shapes a country’s financial openness

theloop.ecpr.eu

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Re: Who the welfare state protects shapes a country’s financial openness

#11

Post by mono442 »

3748949494 wrote: post #9
mono442 wrote: post #4

Earlier quoted context omitted.

The crisis was largely artificially engineered because Germans believed that Southern Europeans were "lazy" and needed to be made an example of. The ECB could have brought government bond yields down from the beginning and most of the problems could have been avoided.

surely buying bonds will save you when you are running 8% yearly deficits to buy votes with welfare payments

There's no natural law saying that budgets have to be balanced. Most countries run constant deficits.

Re: Who the welfare state protects shapes a country’s financial openness

#12

Post by irishcoffee »

ck2 wrote: post #5

in the US it protects the corporations so they don't have to pay a living wage * https://www.washingtonpost.com/business/2026/07/22/amazon-gi...

It seems a little bit cherry-picked that you selected an article about people on food stamps and federal aid during a global pandemic, which saw absolutely massive amounts of people lose their jobs.

Doesn’t feel objective.

Re: Who the welfare state protects shapes a country’s financial openness

#13

Post by gruez »

mono442 wrote: post #4
alephnerd wrote: post #2

> Where redistribution runs vertically and broadly, the welfare state absorbs global finance shocks... If this was true, then the Eurozone crisis would not have been as severe as it was in Portugal, Spain, Italy, Greece, and France - all countries with broad and large social assistance programs. --- Also, the HN title is editorialized, the correct title is "Who the welfare state protects shapes a country’s financial…

The crisis was largely artificially engineered because Germans believed that Southern Europeans were "lazy" and needed to be made an example of. The ECB could have brought government bond yields down from the beginning and most of the problems could have been avoided.

>The ECB could have brought government bond yields down from the beginning and most of the problems could have been avoided.

Is that sustainable? Argentina's predicament is basically caused by a variant of this. The Peronists gave handouts to buy votes, funded by money printing (ie. "The ECB could have brought government bond yields down"), but that has consequences and turned Argentina into an economic basket case. Of course, you might argue the EU doesn't have this problem because it's stronger economically and other states can prop them up, but that begs the question, why should member countries like Germany fund Southern Europeans's fiscal profligacy?

Re: Who the welfare state protects shapes a country’s financial openness

#16

Post by ben_w »

amazingamazing wrote: post #7
ck2 wrote: post #5

in the US it protects the corporations so they don't have to pay a living wage * https://www.washingtonpost.com/business/2026/07/22/amazon-gi...

Given that you cannot force someone to hire anyone at a given wage what is the solution? At best all you can say is that if you decide to hire, it cannot be lower than some minimum, but often this results in no job at all.

While true when minimum is set too high, the level it is set to generally takes this into account so that "too high" is not reached over the entire jobs market.

Re: Who the welfare state protects shapes a country’s financial openness

#17

Post by autoexec »

3748949494 wrote: post #8
ck2 wrote: post #5

in the US it protects the corporations so they don't have to pay a living wage * https://www.washingtonpost.com/business/2026/07/22/amazon-gi...

Is that why wages in the US are double those in europe or more

It's because the most massive costs an American has like healthcare, child care, and higher education are free or vastly less expensive in Europe. Americans spend all their time at work for a very impressive number on their paystub while they're still one accident or illness away from homelessness or bankruptcy. Europeans get higher quality of life/happiness scores and spend far less time slaving away for their boss. Just because the number on your paycheck is bigger, it doesn't mean you're winning.

Re: Who the welfare state protects shapes a country’s financial openness

#18

Post by kingleopold »

gruez wrote: post #13
mono442 wrote: post #4

Earlier quoted context omitted.

The crisis was largely artificially engineered because Germans believed that Southern Europeans were "lazy" and needed to be made an example of. The ECB could have brought government bond yields down from the beginning and most of the problems could have been avoided.

>The ECB could have brought government bond yields down from the beginning and most of the problems could have been avoided. Is that sustainable? Argentina's predicament is basically caused by a variant of this. The Peronists gave handouts to buy votes, funded by money printing (ie. "The ECB could have brought government bond yields down"), but that has consequences and turned Argentina into an economic basket case.…

sorry but whatever Ger/FRA doing right now is %100 not sustainable. Future growth potential is so bleak and so low chance, along with population crisis, aging natives too. They literally need miracle, like one that exist in stories

Re: Who the welfare state protects shapes a country’s financial openness

#19

Post by ambicapter »

3748949494 wrote: post #8
ck2 wrote: post #5

in the US it protects the corporations so they don't have to pay a living wage * https://www.washingtonpost.com/business/2026/07/22/amazon-gi...

Is that why wages in the US are double those in europe or more

What does that matter when cost of living is commensurately expensive?

Re: Who the welfare state protects shapes a country’s financial openness

#20

Post by autoexec »

amazingamazing wrote: post #7
ck2 wrote: post #5

in the US it protects the corporations so they don't have to pay a living wage * https://www.washingtonpost.com/business/2026/07/22/amazon-gi...

Given that you cannot force someone to hire anyone at a given wage what is the solution? At best all you can say is that if you decide to hire, it cannot be lower than some minimum, but often this results in no job at all.

> At best all you can say is that if you decide to hire, it cannot be lower than some minimum

That's pretty reasonable. Nobody should be working 40 hours a week at a job and not make enough to support themselves. Any company who can't afford to pay their employees at least that much is a failure who deserves to be out of business.

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