Friday, April 13, 2012

Amartya Sen: Democratic Failure in Europe

In an interview in the German newspaper "Handelsblatt" (April 12, 2012), Professor Amartya Sen talks about the EU crisis and the neoclassical macro economists.

"Viele Ökonomen nehmen ihre simplen Modelle zu ernst

Here is an English version:

"There is a democratic failure in Europe"

"One result of European monetary integration, without a political integration, is that the population of many of these countries has no voice. Economics is de-linked from the political base. That I think is a mistake and it goes completely against the big European movement that began in the 40s and fostered the idea of a democratic, united Europe."

Amartya Sen is Lamont University Professor at Harvard University. His most recent book is "The Idea of Justice" (Harvard University Press, 2009).

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