European unions, protests and short-term interests

Most of us, most of the time act in our own short-term interests as opposed to interests of the community as a whole or even our own long-term interests. This is probably the case for those European unions protesting austerity measures by their governments.

For an explanation of why this is probably not in their long-term interests see the previous post in this weblog on Economic policy, least squares and the Elliott wave.

Here is the Huffington Post article on the protests.

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