The NYT presented this assertion from a Columbia University professor in an article on the future of socialist political parties in Europe. It provides no background or context.
On its face, the assertion seems obviously wrong. Countries like Denmark and Sweden with very strong welfare states have maintained healthy rates of growth and low rates of unemployment, until the current crisis. By comparison, the United States, the wealthy country with the least developed welfare state, has an unsustainable trade deficit and a health care system that is threatening to bankrupt the country.
If you enjoyed this article, please consider making a tax-deductible donation today. For over 30 years, The American Prospect has delivered independent reporting that exposes corporate power, investigates political corruption, and analyzes threats to our democracy. Unlike many media outlets, we’re not owned by billionaires or corporations—we’re powered by readers like you.
Today’s independent journalism faces unprecedented challenges. Your support makes our reporting possible and keeps our work free and accessible to all. Whether it’s $5 or $50, every contribution helps sustain our nonprofit newsroom.
Join our community of supporters and make a donation today to help keep independent journalism thriving.
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved