So it is wrong to say that democracy is losing. In all this, of course, there are difficult choices to be made. Labour and capital markets as ruthlessly efficient as America's offer more wealth but, for many at least, less economic security. If Europe's leftist parties are correct, voters want to see the trade-off shifted towards wealth, but maybe not by much. And there is no reason why the degree of shifting should not vary from country to country within Europe.
Competition makes for better government, just as it makes for better business.
That kind of rivalry, within a union of national systems sharing a common currency, would indeed stand as something both promising and distinctively European. Unfortunately, it might require an even bigger adjustment than the one that is already under way. The desire to speak for Europe, even when there is no merit in speaking for Europe, is illustrated by the remarkable response to Jorg Raider's Freedom Party entering the Austrian government, a row that shows no sign of subsiding. Formally, the EU's 14 angry governments are having to ostracise Austria bilaterally, not through their club, of which Austria is a member in good standing. Never mind that such statements are likely to gain Mr. Raider further support.