Democracy Isn't Dead Yet (It's Just the Euro)

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ashvinp
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Democracy Isn't Dead Yet (It's Just the Euro)

A somewhat counter-intuitive lesson to be learned from the political machinations in Greece and Italy - democracy isn't dead yet (not good news for the markets).

Democracy Isn't Dead Yet - It's Just the Euro

"Canned laughter" is frequently used on TV shows to create the illusion of soothing, comedic value in the minds of the show’s viewers. Anyone who has watched a show with "canned laughter" is familiar with the logic. One of the characters says something or another that isn’t very interesting or funny, the laugh-track comes on and then we find ourselves forcing a smile or snicker as an almost "unconscious" reaction. Almost, but not quite, because many times we are still forced to face our participation in this contrived reality after the fact.

The ongoing shows in the realm of the political economy are no different. They use their own versions of "canned laughter" to legitimatize a situation which is otherwise plainly illegitimate to those of us strapped into our seats, forced to watch along in agony. A great example of these political laugh-tracks is the "vote of no confidence" that is held in Parliamentary countries, where the appointed governments almost always survive in one piece by maintaining "party discipline" or slightly modifying policies to corral dissenters in.

However, attempts to impose an artificial feeling of political satisfaction for the people and political legitimacy for the government cannot and will not be successful forever, under any and all circumstances, and that fact couldn't be any truer than it is now.  It is evident from the "no confidence vote" that has just occurred in Greece, where Prime Minister George Papandreou was truly on the chopping block this time, and the one that will soon occur in Italy, where Prime Minister Silvio Berlusconi will be as well.

More at the link above.

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