Lost in the Global Economy

By Steven J. Grisafi, PhD.

In an interview given to Der Spiegel, the German Finance Minister Wolfgang Shäuble spoke an aphorism told to him from his grandmother: Benevolence comes before dissolution. This aphorism is significant because it captures much, in the eyes of non-Germans, such as myself, of what we perceive as the quintessential German character. I am certain that Dr. Shäuble would take great pride in the knowledge that he represents German character and identity to the remainder of the world.

Professor Simon Wren-Lewis directs his readers’ attention to an article written by American economist Denis Snower that was published in Süddeutsche Zeitung. Although American, Professor Snower, lives in Germany as he has serves as the President of the Kiel Institute for the World Economy. While taking issue with President Snower, Professor Wren-Lewis seems to have identified himself, first and foremost, as a macro-economist, not an Englishman. I took good cheer one day to read on the blog of Professor Lars P. Syll as he proclaimed himself to be a Swede. He wrote Swede, not Swedish ancestry, nor any other such equivocation. He is lucky to have such a clear and simple identity. My sister has told me of a time, when at work, her colleagues, who were of Asian Indian ancestry, persisted to ask her what was her ancestry. To this my sister replied only that she was American. What strikes me as strange is that they would be interested enough to ask her this. While they are quite numerous now, when my sister and I were children Americans of Asian Indian ancestry were few to be found in America. The immigration laws in the United States changed significantly twice during the twentieth century. First, in 1923, to restrict immigration severely to only those people already present in the United States. The laws changed again in 1965 to remove all such restrictions. America has changed dramatically since then, about as much as it changed during the peak immigration years of 1890’s when Eastern and Southern Europeans came to the United States. The change in the immigration laws in 1923 was in part a response to this immigration from Southern and Eastern Europe. Although I disagree with the sentiment, American economists who claim that immigrants do not take jobs from Americans appear not to be paying much attention to generations X and Y. Millennials often complain that the Baby Boom generation has taken all of the jobs in America and left them with nothing. If younger generations in America complain that their fathers, mothers, aunts and uncles have taken all of the jobs, do American economists expect them to tolerate even more competition from abroad? America’s identity changes so rapidly that the wisdom of grandmothers falls only upon deaf ears.

I wish that I could reply as simply as my sister to such questions of my identity. I cannot claim similarly, as Professor Wren-Lewis, that I am engineer since I have never been employed as such. I can only say, as I do, that I have been educated as an engineer. I cannot say as simply as Professor Syll, that I am American, because no such identity exists beyond our passports. Others beyond the United States may have the vision of Americans as cowboys in the manner as President George W. Bush has often been portrayed. Yet, George W. Bush is as alien to me as is Barack Obama. As children in America, we grow identifying ourselves as one of those with whom we associate. Usually this means that we come to think of ourselves solely as Americans and nothing else. However, there comes a time, I believe in lives of many, of which I am one, when we come to look upon ourselves as something different. We are no longer simply American.

If compelled to assert for myself an identity I would claim that I am Catholic, but not Christian. This distinction suits well with many Americans who do not consider the Pope to be Christian, but the Anti-Christ. Such people do still exist in America. Although I doubt the Resurrection, I consider myself to be no less Catholic than the Pope because I adhere to the philosophy of Catholicism, not the religious precepts. This, I assert, is consistent and true to Catholicism because I tend to think that long ago, several centuries ago, the most learned of the College of Cardinals came to the same realization that I did. Such men, who knew and used Latin as their primary means of communication, surely understood that St. Jerome did not assert Jesus was the Son of God. But because they saw the Church as a secular organization, part of the bedrock of European civilization, they saw it as their duty to maintain stability, law and order, amongst all Europeans. So they spoke not of their true understanding, but only in terms needed to maintain Church control over the people of Europe.

Denis Snower appears to suggest that Europeans need to add purpose to their lives that extends beyond their national boundaries, but not beyond the geographic periphery of Europe. He overlooks that this they once had, but nationalism destroyed it. They have no need to return to the times of empire, but only need to enhance their commerce. Europeans appear not to realize how fortunate they are to have such well defined cultures. It is foolish to risk losing the clear sense of identity that both Lars Syll and Wolfgang Shäuble have exhibited. I have no doubt that Simon Wren-Lewis would also take great pride to proclaim that he is an Englishman. All that the European Monetary Union needs is a medium of exchange that, while uniting all European peoples in trade, does not extinguish the individuality of each culture. In his interview with Der Spiegel, Dr. Shäuble made clear that the European Monetary Union functions only through the voluntary cooperation of all its members. To facilitate cooperation amongst the nineteen diverse cultures one ought not seek greater compromise than what one’s goals require. Europe does not need fiscal transfers among its member nations, but only a cost-effective medium of exchange. This is not nearly as difficult to achieve as is persuading all member nations that it is all they need.