Europe better suited to respond to globalisation than US, says US economist

The “European dream” is beginning to capture the
attention and imagination of the world, while the American
dream is fading, argues Jeremy Rifkin in his new
book. 

“A new European Dream is born,” proclaims
the American economist Jeremy Riffkin in his new book
‘The European Dream: How Europes Vision of the Future
is Quietly Eclipsing the American Dream’. According
to him, the ‘American dream’ is declining,
while Europe makes the more attractive global model for
the 21st century. 

Rifkin argues that Europe is best positioned between
America’s extreme individualism and Asia’s
extreme collectivism “to lead the way into the new
age”. At once more egalitarian, more communitarian
and more cosmopolitan than America, Europe is far better
suited to meet the challenges of globalisation, he
says. 

In particular, Rifkin, who draws on more than twenty
years of experience of working in Europe as an advisor to
heads of state and political parties, points to the
social welfare state as the clearest manifestation of
European egalitarianism. While Americans view human
rights as political liberties only, Europeans tend to
have a broader view which encompasses
socio-economic, cultural and environmental factors.

Cosmopolitan political institutions can be considered
another strong European asset in the response to
globalisation, argues Rifkin. Moreover, the European
approach to conflict resolution favours means of
diplomacy, trade and international law. Overall, this
multilateral European model makes Europe more attractive
to a generation “anxious to be globally connected
and at the same time locally embedded,” writes
Rifkin.

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