Europeans are constantly reminded of all that is wrong with America. But perhaps Europeans should reverse the process: what do Americans think is wrong with Europe?
Above all, Americans see Europe as a continent of self-inflicted stagnation - and with good reason. Economic growth in the EU was near zero in 2003.
Several countries, most notably Germany and France, seem hobbled by inflexible labor markets and regulations that inhibit dynamism. The European Union's highly touted "Lisbon Declaration" of a few years ago, which proclaimed that Europe would become the world's most competitive region by 2010, appears laughable to Americans, whose productivity gains seem to scale new heights constantly.
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The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
Europeans are constantly reminded of all that is wrong with America. But perhaps Europeans should reverse the process: what do Americans think is wrong with Europe?
Above all, Americans see Europe as a continent of self-inflicted stagnation - and with good reason. Economic growth in the EU was near zero in 2003.
Several countries, most notably Germany and France, seem hobbled by inflexible labor markets and regulations that inhibit dynamism. The European Union's highly touted "Lisbon Declaration" of a few years ago, which proclaimed that Europe would become the world's most competitive region by 2010, appears laughable to Americans, whose productivity gains seem to scale new heights constantly.
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