March 9, 2012 - Europe's Economic Crisis: What Went Wrong, What Will Happen, and What It Means for America

Samuel Gregg
Acton Lecture Series (September 2, 2010) - Until recently, many thought that Europe had escaped the worst of the 2008 financial crisis.
Some even argued that the crisis has demonstrated the European social model's superiority over "Anglo-Saxon capitalism". In 2010, however, we have seen an entire country bailed out, riots in Athens, governments slashing budgets, and several European nations staring sovereign debt default in the face. Some are even claiming that the euro is finished. So what went wrong for Europe? How adequate have been the responses of European governments? And what are the consequences for America?
These questions and others are addressed by Acton's Research Director Dr. Samuel Gregg. Dr. Gregg has written and spoken extensively on questions of political economy, economic history, ethics in finance, and natural law theory. He is the author of several books, including Morality, Law, and Public Policy (2000), On Ordered Liberty (2003), his prize-winning The Commercial Society (2007), The Modern Papacy (2009), and his most recent book, Wilhelm Röpke's Political Economy (2010).
See video