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by pirate787
2 days ago
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Krugman so badly wants this to be true. But handwaving away massive difference in IT innovation and in practical data like housing size and vastly greater American consumption does not make it true. Just 20% of European homes even have air conditioning. European industrial energy costs are more than 2x the U.S. Don't ignore the data. Europe is behind and falling behind at an ever-faster clip. And the strategic issues of continued vast unskilled migration into Europe and the need to re-arm in a post-NATO world are further economic burdens that will tip most of Europe into middle-income status. |
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