Yes, But Who Gets Portugal in the Will?

Robert Samuelsson says Europe is dying, or at least failing. Man, the French infect everything they touch...

Europe as we know it is slowly going out of business. Since French and Dutch voters rejected the proposed constitution of the European Union, we've heard countless theories as to why: the unreality of trying to forge 25 E.U. countries into a United States of Europe; fear of ceding excessive power to Brussels, the E.U. capital; and an irrational backlash against globalization. Whatever their truth, these theories miss a larger reality: Unless Europe reverses two trends -- low birthrates and meager economic growth -- it faces a bleak future of rising domestic discontent and falling global power. Actually, that future has already arrived.

...It's hard to be a great power if your population is shriveling. Europe's birthrates have dropped well below the replacement rate of 2.1 children for each woman of childbearing age. For Western Europe as a whole, the rate is 1.5. It's 1.4 in Germany and 1.3 in Italy. In a century -- if these rates continue -- there won't be many Germans in Germany or Italians in Italy. Even assuming some increase in birthrates and continued immigration, Western Europe's population grows dramatically grayer, projects the U.S. Census Bureau. Now about one-sixth of the population is 65 and older. By 2030 that would be one-fourth, and by 2050 almost one-third.

No one knows how well modern economies will perform with so many elderly people, heavily dependent on government benefits (read: higher taxes). But Europe's economy is already faltering. In the 1970s annual growth for the 12 countries now using the euro averaged almost 3 percent; from 2001 to 2004 the annual average was 1.2 percent. In 1974 those countries had unemployment of 2.4 percent; in 2004 the rate was 8.9 percent.

...Consider some contrasts with the United States, as reported by the Organization for Economic Cooperation and Development. With high unemployment benefits, almost half of Western Europe's jobless have been out of work a year or more; the U.S. figure is about 12 percent. Or take early retirement. In 2003 about 60 percent of Americans ages 55 to 64 had jobs. The comparable figures for France, Italy and Germany were 37 percent, 30 percent and 39 percent. The truth is that Europeans like early retirement, high jobless benefits and long vacations.

Perhaps we should consider this as our own welfare state expands mercilessly (even under GOP control, alas). But truth be told, the vitality that once caused Europeans to go out and seek new worlds and new challenges seems to have disappeared entirely, at least from Western Europe. The Eastern European nations that just escaped from Communism may have to escape from Europe soon as well.

Maybe the spectre of death really does hang over Europe -- or at least it's pasty white face. Word has it Michael Jackson's headed there next week. That should scare all the rest of the children into leaving.