Lessons from America’s astonishing economic record

Post by maxilevi » Sun, Apr 16, 2023, 6:17 PM UTC

ipnon wrote: post #108

annoyingnoob wrote: post #12

Kind of ignores income inequality and that any benefits are going to top income earners. https://www.pewresearch.org/social-trends/2020/01/09/trends-... The article claims income-tested benefits have doubled since 1979 and that incomes for the beneficiaries has increased. At the same time, earned income as a share of the economy has decreased - those folks need the extra benefits because they are unable to earn it, n…

Thomas Sowell once pointed out that billionaires are correlated with millionaires, and millionaires are correlated with a middle class. Most countries without billionaires are not great places to live and work. Governments without rich people to tax do not accomplish much in the way of welfare. Take a look at a map of countries with billionaires.[0] I would argue those with billionaires are much better at providing s…

Post by bobolino123 » Sun, Apr 16, 2023, 6:21 PM UTC

DaedPsyker wrote: post #62

crop_rotation wrote: post #8

How would Europe even compete with America in the long run. America just has so many advantages (massive influx of talented workers, one country, better equiped with natural resources, the supremacy of the dolllar). There are many other reasons some of which might not seem clear cut. The average American or European life requires an economy which is on average much better than the average for the world. If you do not…

Being from Europe, my perspective might be as biased as American fatalism but as the article says I think the key most important aspect is lacking a true single market and I'm sceptical of us ever achieving it. The more we fall behind the more we'll cling to tradition and avoid further integration, a continuous cycle.

Post by CalRobert » Sun, Apr 16, 2023, 6:25 PM UTC

ddol wrote: post #56

CalRobert wrote: post #10

Earlier quoted context omitted.

No idea, but as an American who moved to Europe it's crazy how much ambition is casually discouraged ("the notions on him!") and investors are chickenshit scaredycats offering tiny numbers. Pathetic pay too. But I still live in Europe because I prefer well designed cities and everyone (mostly) having ample vacation time.

As a European who moved to California the societal stigma around young ambition in Ireland was brutal. When I started my first company in my 20’s and spoke to friends and family about it a phrase I frequently heard was “ah here, why would you stick your head above the parapet?”[0] Having seen the kinds of Irish startups that get funding from Irish VCs they both tend to be run by Irish men in their 50’s/60’s who’ve be…

Post by pxue » Sun, Apr 16, 2023, 6:34 PM UTC

ttul wrote: post #34

non- wrote: post #6

> The flexibility of the labour market helps employment adapt to shifting patterns of demand. Already many of the workers in America who were laid off from Alphabet and other tech firms at the start of the year are applying their sought-after skills elsewhere, or setting up their own businesses. In continental Europe, by contrast, tech firms are still negotiating lay-offs, and may think twice about hiring there in fu…

America operates on the principal that it is better to fail quickly and rebuild than it is to defend what’s not working to preserve the status quo for as long as possible. In a century marked by rapid technological change, it is probably better to hybridize the American and European approaches, allowing faster bankruptcies and more flexible job termination in Europe while also providing a more generous safety net in…

Post by euroderf » Sun, Apr 16, 2023, 6:35 PM UTC

Gareth321 wrote: post #83

ttul wrote: post #34

Earlier quoted context omitted.

America operates on the principal that it is better to fail quickly and rebuild than it is to defend what’s not working to preserve the status quo for as long as possible. In a century marked by rapid technological change, it is probably better to hybridize the American and European approaches, allowing faster bankruptcies and more flexible job termination in Europe while also providing a more generous safety net in…

> America operates on the principal that it is better to fail quickly and rebuild than it is to defend what’s not working to preserve the status quo for as long as possible. In a century marked by rapid technological change, it is probably better to hybridize the American and European approaches, allowing faster bankruptcies and more flexible job termination in Europe while also providing a more generous safety net i…