Leo Panitch is a Distinguished Research Professor at York University, renowned political economist, Marxist theorist and editor of the Socialist Register.   He is the co-author, along with Sam Gindin who appeared on last week's Old Mole,  of The Making of Global Capitalism -- and many other works.  They discuss the outdated idea that European nations are generous welfare states and the future of resistance to austerity measures engineered by neo-liberal governments.