The Death Spiral of the Welfare State

Greece is just the beginning of the unfolding financial disaster in Europe.

What we're seeing in Greece is the death spiral of the welfare state. This isn't Greece's problem alone, and that's why its crisis has rattled global stock markets and threatens economic recovery. Virtually every advanced nation, including the United States, faces the same prospect. Aging populations have been promised huge health and retirement benefits, which countries haven't fully covered with taxes. The reckoning has arrived in Greece, but it awaits most wealthy societies. . . .

And what happened in Greece is not too different from what is happening in California.

Canadian Human Rights Advocate Mark Steyn explains some of the ways the world is changing. Click to full screen mode after starting the video you select below. If you're the impatient type, just go with the Chapter 4 or Chapter 5 video. Interesting ideas, whether or not you agree with them.

Chapter 1 Breaking down the numbers: why the West is dying
Chapter 2 Unsustainable habits of the West
Chapter 3 Civilizational exhaustion
Chapter 4 Response to critics
Chapter 5 Comparing Europe and America