And, of course there is also the fact that Greece is remarkably ineffective at collecting taxes. This, and any nuanced discussion of the economics of these fragile states, always fails to get mentioned in these conversations. Simple math, staying on message, and throwing in a few of the "socials" -- "social democratic model" and "social welfare states," etc. is much easier than actually dealing with the complexities of the matter. What do you suppose are the odds that trending birthrates and spending on "social" programs don't look that much different in Germany, Sweden, Switzerland, Japan...?
In this simple vision of the world in which there are only generational demographics, evil socialism and perpetual growth, the only solutions are to eliminate all the things, including decent healthcare, that keep the weak alive, or to breed ever larger generations to support extended lifespans and feed unending growth. Always. Until the world explodes from it.
Thank God it's not that simple.
Tim
The math IS as simple as it is undeniable...
Japan is a fascinating sociology experiment because it is a closed society with essentially no immigration. Japan is currently, by far, the oldest population in recorded history and it continues to age rapidly while simultaneously its population falls precipitously. As Daniel Gross wrote in Slate "Japan's population peaked in 2004 at about 127.8 million and is projected to fall to 89.9 million by 2055. The ratio of working-age to elderly Japanese fell from 8-to-1 in 1975 to 3.3-to-1 in 2005 and may shrivel to 1.3-to-1 in 2055. In 2055, people will come to work when they have time off from long-term care," said Kiyoaki Fujiwara, director of economic policy at the Japan Business Federation."
This voluntary population decline is on a par in magnitude and rapidity with the population losses secondary to the Black Death of the Middle Ages. The resultant inverted demographic pyramid, as in Europe, is inherently unstable. But at least Japan possess a homogenous population that shares a common culture.
The situation in Europe is in some ways more interesting....
Germany's birthrate is also ~1.3 with similar long term consequences economic consequences. (http://www.spiegel.de/international/...-a-779741.html)
As Angela Merkel pointed our in 2009, for Germany an Obama sized stimulus was out of the question simply because its foreign creditors knew that there are not enough young Germans around to ever repay it. (nytimes.com/2009/3/20/world/europe/30merkel.html?hp.)
Sweden's and Switzerland's demographics are only marginally better than Germany's. And like Germany they have a large, unintegrated immigrant populations that, ahem, does not share the Enlightenment philosophy of their adopted countries. It is quite fascinating to contemplate a Germany without Germans and Italy without Italians!
Woody Allen once observed that "half of life is showing up". If so, Western societies are in trouble because there will soon not be enough of them to show up. We live in interesting times....