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by chikitabanana
891 days ago
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Really sad to see Europe spiral back into stagnation. "In 2008, the eurozone and the US had equivalent gross domestic products (GDP) at current prices of $14.2 trillion and $14.8 trillion respectively (€13.1 trillion and €13.6 trillion). Fifteen years on, the eurozone's GDP is just over $15 trillion, while US GDP has soared to $26.9 trillion." Any thoughts as to the disparity in growth? How do we correct course? Do we need to? |
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It's not clear to me that any course correction is needed, or wanted. For example, note https://nitter.net/BergAslak/status/1734931295422022042#m — Americans demongraphics changed later than in Europe, which means that compared to Europe, the US now has a bulge of childless young couples. That causes a GDP boost, but does it mean anything nontrivial? I think not. It doesn't mean that the childless couples are better/worse off than they could've been, it doesn't mean that the couples with children are better/worse than they could've been. GDP/growth reflects a a sum of lots of things, and the difference reflects a change in the composition of the parts that are added.