Earlier quoted context omitted.
Let's look at France then. They have lower numbers on paper when you look at things like per capita GDP, but they live longer lives, work about half the hours we do, take a full month of vacation, have access to free higher education and healthcare, etc. The estimates for their overall wellbeing are very similar to ours [0]. At to income distribution - in France the lowest quintile controls 8% of incomes [1], while i…
There’s a lot of great things about the French economy. There’s also plenty of areas where they lag behind the US. The French labor force participation rate is ~74% compared to ~62% in America. The French homeless rate is 3x the US rate. France just defaulted on its national pension obligations a few months ago. What policy exactly should we copy from France? If we’re still arguing about wealth redistribution policie…
By some measures many European nations are better off economically than we are. And many of these countries have wealth taxes.
We’d also be remiss to overlook that the US had a tremendous advantage in not having our infrastructure destroyed in the middle of the 20th century.