Has European "Socialism" helped in a crisis?

The last of my stories from my recent trip to Europe just posted over at Global Post. This explores whether the European model -- a social democratic system with universal health care, a more rigid labor market, and higher taxes -- proved more resilient in coping with the shock of the Great Recession than the American "free market" alternative.

The answer, as one might expect, is nuanced. The piece, filed from Austria with input from across western Europe, can be read by subscribers to the Post's Passport service. If you don't get Passport but care about foreign news, consider trying it. Where else are you going to find a prominent Czech economist describing the situation by use of metaphors from Lord of the Rings?