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A narrower Atlantic

Despite America's move to the left under Obama, it's still assumed that Europe and America are fundamentally different: in their economies, societies and values. But this is a myth

By Peter Baldwin   May 2009

Talk about upending accepted certainties! While Europe is now in the hands of right-of-centre parties (France, Germany, Italy, Sweden, Denmark and David Cameron pacing restlessly in the wings), America has “gone socialist.” Nationalising the financial sector by the back door, considering massive subsidy of production industries, increasing state spending on healthcare and education, promising big investments in all manner of greenery, and limiting executive salaries: is Barack Obama beating Europe at its own game? “We are all socialists now,” Newsweek trumpeted in February, predicting that, “as entitlement spending rises over the next decade, we will become even more French.” General…

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