Noah denkt™  -
    Project for Philosophical Evaluations of the Economy
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Where is the support of US supply side economists for Ms. Merkel?
Observation, drafted and published on June 16, 2102
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In the current battle in favor or against
Eurobonds, it is quite disappointing to see that US supply side
commentators show either little or no support for Ms. Merkel’s otherwise congenial
anti-Keynesian politics.
Instead, the standard rhetoric which you get from Anglo-american pundits is that “Europe should do more to
finally get its house in order”, that “Germany should show more leadership”,  that “this is not the time to be
ideological” and that “it is  plainly wrong to implement austerity politics in a recessionary environment”. So the
question that any German free marketeer should ask him- or herself at this time is this: Why is it that
neoconservative (or “neo-liberal”) commentators cannot align themselves with a German position that has come
to be the final bulwark against a sea of Keynesian populism? Could it be that this lack of support for otherwise
similar positions has something to do with a lingering image problem that Germany has in the international
arena?  Is it really possible that American neoconservatives find it hard to openly voice their sympathy for Ms.
Merkel’s economic policies because it simply isn’t fashionable to associate yourself with a nation whose history is
what it is? - We at Noah denkt™ believe that this is the case. It is our opinion that Germany finds itself isolated in
this Eurobond debate, not because its views are incomprehensible or outlandish but rather because it makes
people feel uneasy to support a country which, from the first day of its existence, has had a substantial PR
problem to deal with. After all, it cannot be denied that the birth of the unified German state in 1871 was anything
but welcome in the international community. Much rather was it a general sentiment at the time that this newly
created giant would only rock the traditional balance of power on this complicated European continent and that its
emergence could, hence, not be viewed favorably. Understandably so, some, if not all of this scepticism towards
Germany lingers on until today. And it may well be that even free market commentators harbor some of that.

Now, the conclusion of all this is that
Germany will eventually have to accept the issuance of Eurobonds only to
make up for the nagging PR problem that it is pestered with. And, unfortunately, it cannot be ruled out that this
country will ultimately crack under the financial burden which the lack of neighborly love is imposing onto it.
Hopefully, it won’t come to that. And hopefully, we will all find a way out of this, - together.
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Keywords:

American view of the EURO, US views on the Euro crisis,  supply side versus Keynes, supply side versus demand
stimulus, pro and contra Keynes, end of Keynes, pro and contra Euro-Bonds, US commentators on the EURO
crisis, US view on Eurobonds, US view of austerity, supply side view of austerity