Now, it is France’s turn. French Prime Minister Michel Barnier’s government has fallen in a confidence vote after just 90 days, triggering a political crisis and calls for the resignation of President Emmanuel Macron. It follows the recent collapse of the German government. And, come to that, the fall of almost every incumbent government in Europe.

In each case, there are local causes, but there is also an underlying theme. The money has run out. The lockdowns, which were more severe in Europe than in the United States, were not only expensive in themselves. They also altered the relationship between state and citizen, leading to higher expectations of government support.