* The defeat of the European constitution last year has left many wondering about its future. Undoubtedly the European Union, despite Its resilience, faces many serious challenges, including the rising power of corporations, a decline of wages, sharp inequalities among the member states, low fertility rates, and aging populations. On the other hand, Europe also has many strong unions and civil society groups that have been able to curb some of the worst excesses of corporate power.
* Over the past ZS years, profits have soared in Europe while wages (as a percent of GNP) have fallen in tandem. The economy-wide profit rate in the EU is now almost 50% higher than it was in the early …
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