Monday, May 06, 2013
When joblessness reaches 27 percent in a country, the government had better watch out. The seeds of revolution have been planted, and the public is ready to roar in anger. Perhaps Spain's only safety at the moment is that there is no prevailing political philosophy other than democracy to help the country find a way out of austerity. Were there Marxist cells promising jobs, an uprising would be a certainty. There is no guarantee a revolt won't happen. People look to government to provide the basics -- food, health, work, a freedom to congregate and speak. With high unemployment, essentials are threatened, and the people conclude their government has failed. Like Greece, there may be no quick fix. The economy was boosted artificially, especially in the real estate market. When the bubble burst, there was nothing to prevent a freefall. There is hope that Spain and Greece will grind out of the messes they are in. If they are successful, perhaps their citizens will never again opt for easy solutions to economic growth. But don't bet on it.