A monument to Mr. Keynes

November 7 — the day of celebration of the Bolshevik Revolution in the USSR, magnificent parades in Red Square, leaders waving to the masses from the Mausoleum.  Ironically, this is the day on which we learn the result of the 2012 presidential elections in the US.

I agree with Charles Rowley’s view that the American exceptionalism is no more.

In particular, he writes:

“The Democratic Party makes one major error in quietly gloating over this transformation. Social market economics is not the monopoly jurisdiction of any single party. By 2014, the Republican Party will have adjusted to political reality. Mitt Romney was its last shot in support of American exceptionalism. Both parties henceforth will become social democratic in nature. And American exceptionalism will be a historical relic.”


One Response

  1. Andrey

    Good article. Citizens of this country chose socialism, but many don’t know the difference between capitalism and socialism. A lot of them voted based on personal preferences, without even basic knowledge of political and economic structures. Latinos need visas and imigration reform, blacks vote for black, etc. 93% of black people voted for Obama. Coincidence? Romney had no chance, it was obvious, however most europeans and russians I know voted for Romney, because they know where it’s all going.
    Here is another good article by Francis Fukuyama:

    November 11, 2012 at 12:34 am

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