Monday, July 2, 2007

European Economic Strengths

A very interesting article on VoxEU points to a number of relative advantages of European economies and weaknesses of the US economy. Particularly interesting is the comparison of efficiency of energy use. US GDP per unit of energy is only 4.5, compared with 5.9 for France and 6.9 EU average. Paul De Grauwe also notes a sharp decline in US social mobility.

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