Europeans want more safety than they can afford. And Americans may well get more disruption than they anticipate

 

As I watch Europe’s deepening existential crisis over its grim growth prospects, I often think back to a speech I heard 16 years ago in Paris.

I was a lowly consultant for the Organization of Economic Cooperation and Development, but for some reason they had let me in to a fancy lunchtime reception, 

where I listened to a senior staff member describe how the financial crisis proved the validity of the European economic model. 

Slow, steady and highly regulated growth, she explained, was superior to the American boom-and-bust version of capitalism.

Last year Mario Draghi, the former president of the European Central Bank, released his now infamous “Draghi report,”

https://commission.europa.eu/topics/eu-competitiveness/draghi-report_en#paragraph_47059

which blames excessive and fragmented European regulations for strangling growth. 

The purpose of government is to balance risk and reward for its citizens. 

The problem is that Europeans want more safety than they can afford. And Americans may well get more disruption than they anticipate.

Allison Schrager Bloomberg 27 februari 2025  

https://www.bloomberg.com/opinion/articles/2025-02-27/europe-s-risk-aversion-comes-with-consequences




Tillbaka till Rolfs länktips 27 Februari 2025

Rolfs länktips 27 Februari 2025

 





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