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Learning from Europe
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« Greece was condemned by the European Commission on Tuesday for deliberately falsifying dataEuropean social democracies »

Learning from Europe

01/12/10


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Learning from Europe

Permalink 06:51:19 am, by editor of MarketObservation.com Email , 123 words   English (US)

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Categories: Economics United States, Economics Europe

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We had yesterday a post on Paul Krugman's NYT article about what we can learn from Europe. Paul Krugman concluded:

"Europe is often held up as a cautionary tale, a demonstration that if you try to make the economy less brutal, to take better care of your fellow citizens when they’re down on their luck, you end up killing economic progress. But what European experience actually demonstrates is the opposite: social justice and progress can go hand in hand."

Harvard's G. Mankiw puts certain numbers into perspective:

"Here is GDP per capita, adjusted for differences in price levels (PPP), from the IMF, for the United States and the five most populous countries in Western Europe:

United States 47,440
United Kingdom 36,358
Germany 35,539
France 34,205
Italy 30,631
Spain 30,589"

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