August 10, 2004

WHY EUROPE is eating America's dust. Quotable: "[The] United States [has a] real gross domestic product per person in 2003 of $34,960 (in 1999 dollars). This is well above every European country .. Norway, has a per capita GDP of just $30,882 .. The major countries of Europe are even further behind: United Kingdom ($26,039), France ($25,578), Italy ($24,894) and Germany ($24,813) .. Europeans produce no more per year than Americans did 20 years ago. And they are not catching up. According to the Bank for International Settlements in Switzerland, the productivity gap between the United States and Europe is actually widening .. The OECD blames the unwillingness of Europeans to work as the principal reason for the lower output per worker and their lower standard of living compared with Americans."

Posted by Greg Ransom | TrackBack