Because it’s directly related - the US’ political strategy is why PayPal exists. Politics is inseparable from economics.
We prioritize the private sector politically and there’s a lot of benefits, and a lot of detriments, to this.
One of the downsides is we have hundreds of more or less identical companies doing the same thing that don’t need to exist. This breeds inefficiency into systems we use, thereby opening the door for even more useless companies that just reduce friction. Friction that we decided we needed to have.
The most obvious example is healthcare in the US, but every industry experiences these detriments.
Edit: Then why did you put a question mark at the end of a statement of fact instead of a period? What he said was true, has been true for a long time in fact (not just Europe, but a lot of the rest of the world), and you can easily google for evidence if you don't believe him, without questioning his honesty. Were you honestly that surprised that you had to ask?
The US lags so far behind other so-called "third world countries" not only in banking, but also health care, freedom from gun violence and school shootings, and now also civil rights and freedom of speech and democracy. I don't think Canada or Greenland would vote to give up their advantages and freedoms to become US states, but if they did, they sure wouldn't vote for the current administration.
I didn't think anyone was lying. Not sure what you mean by that. I was wondering if what they were saying included that aspect specifically or not.
I am not even sure why you were putting words like shocking, surprised, skeptical seemingly into my response. None of these are accurate descriptions of my question and response.