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Medianotes: Debunking the Myth of Europe's Failing Economy | The Oakland Tribune

March 25, 2010 |

Author Steven Hill's "Europe's Promise: Why the European Way Is the Best Hope for an Insecure Age" rebuffs many of the distortions we've heard for years about Europe's supposedly broken economic system, things those of us who have actually been to Europe lately know aren't true. It's capitalism, all right. Just not the U.S. version.

This week Hill told CBS Radio Network commentator Dave Ross (on Ross' talk show) that the U.S. is rigidly locked into a "fundamentalist" version of capitalism.

Hill, who researched his impressive book in Europe for a decade, runs the Political Reform program of the New America Foundation. He told Ross, whose well-written commentaries air here on KCBS Radio weekdays: "We have the Wall Street form of capitalism. Europe has a broader, society-based form of capitalism that spreads profits around to society at large. ...