In response to:

The Crisis of the Middle Class and American Power

johnm h Wrote: Jan 09, 2013 10:27 AM
Friedman should avoid economics where possible and revisit economic issues after he has studied the Austrians and economic history. Economies that are still market based do quite well, its just that they are small. Size changes politics and politics changes economic policy to favor those with influence. The latter gather an increasing share of the fruits, hinder competition, and gradually change large economies into plutocracies.

Last week I wrote about the crisis of unemployment in Europe. I received a great deal of feedback, with Europeans agreeing that this is the core problem and Americans arguing that the United States has the same problem, asserting that U.S. unemployment is twice as high as the government's official unemployment rate. My counterargument is that unemployment in the United States is not a problem in the same sense that it is in Europe because it does not pose a geopolitical threat. The United States does not face political disintegration from unemployment, whatever the number is. Europe might.

At the same time, I would agree...