Loss of soverignity takes many forms - but generally the common man (and woman) end up at the receiving end. Europe's ex-democracies in Ireland, Portugal, Finland and Greece find that even politics is not the same anymore. Apparently citizens can vote for anyone, but the result of the ballots cannot alter any prior decision by the EU bosses.
All risk (e.g. national debt) are socialised - i.e. spread across the entire population. And most benefits (e.g. corporate profit) are privatised.
My view of how economics works isn't Keynesian or Hayekian. It's just common sense.
Advertising today, in two charts. -
13 hours ago