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WHO HAS/WILL HAVE THE SUPERIOR ECONOMY?

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prediction : culture :

WHO HAS/WILL HAVE THE SUPERIOR ECONOMY?


[+] ballot by Cathexis
created Wed Nov 17, 04

After adding 10 new Eastern and Central European nations in May of 2004, the European Union now has a much larger population than the United States, and a slightly bigger economy. As Jeremy Rifkin argues in his book The European Dream, the United States remains ahead in per-capita GDP ... but the difference is not as significant as it looks.

Much of American (quote-unquote) productivity, Rifkin suggests, is accounted for by economic activity that might be better described as wasteful: military spending; the endlessly expanding police and prison bureaucracies; the spiraling cost of healthcare; suburban sprawl; the fast-food industry and its inevitable corollary, the weight-loss craze.

Meaningful comparisons of living standards, he says, consistently favor the Europeans. In France, for instance, the work week is 35 hours and most employees take 10 to 12 weeks off every year, factors that clearly depress GDP. Yet only the most macro-economic Puritans can assert that France is worse off as a nation for all that time people spend in the countryside downing Cabenet and Camembert with friends and family.

Do you believe that the EU economy has/will eclipse(d) that of the US, with current trends?

U.S. has and will have superior economy
U.S. has superior economy, but E.U. will have it.
E.U. has and will have superior economy
The E.U. has superior economy, but U.S. will have it.
Neither
Other (comment)

Ballot #58949 : SEE RESULTS

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COMMENTS:
Should be interesting to see how many can deal with numbers, figures, and facts vs how many will respond with knee-jerk Nationalism.
by Cathexis on Wed Nov 17, 04 12:24pm [+]

European children are consistently better educated; the United States would rank ninth in the EU in reading, ninth in scientific literacy, and 13th in math. Twenty-two percent of American children grow up in poverty, which means that our country ranks 22nd out of the 23 industrialized nations, ahead of only Mexico and behind all 15 of the pre-2004 EU countries.
by Cathexis on Wed Nov 17, 04 12:33pm [+]

Perhaps more surprisingly, European business has not been strangled by the EU welfare state; in fact, quite the opposite is true. Europe has surpassed the United States in several high-tech and financial sectors, including: wireless technology, grid computing, and the insurance industry.

The EU also has a higher proportion of small businesses than the U.S., and their success rate is higher.
by Cathexis on Wed Nov 17, 04 12:34pm [+]

American capitalists have begun to pay attention to all this. In Reid's book, Ford Motor Co. chairman Bill Ford explains that the company's Volvo subsidiary is more profitable than its U.S. manufacturing operation, even though wages and benefits are significantly higher in Sweden. Government-subsidized healthcare, child care, pensions and other social supports, Ford says, more than make up for the difference.
by Cathexis on Wed Nov 17, 04 12:35pm [+]

I think for the short term Europe will be the world economic powerhouse, but only until China becomes the big fish in probably 25 years.
by ABC on Wed Nov 17, 04 12:52pm [+]

ABC: Perhaps ... but again, factor in lifestyle, not just gross GDP.
by Cathexis on Wed Nov 17, 04 1:44pm [+]

You make some good points in your dissertation Cathexis.

I would agree that quality of life is higher in Europe, which may or may notbe to the detriment of our output.

We may not have a perfect system, but we do have lower working hours and more holidays. I would have thought that those who espouse 'the family' would embrace many of the 'pro family' policies that are prevelant in Europe.

In the UK we have introduced paternity leave, so yet more is being done to encourage the prevelance of 'the family'

Of course everything has tobe paid for,but unlike the US, say, we in Europe do not seem to mind paying slightly higher taxes for services.

The US much to be pleased with too, they do have a 'can do' attitude that many in Europe seem to lack.

I guess its a question of what is important, working long hours with little or no job security or the alternatives.


Im of the opinion, that people work to live and not live to work.
by Steelhamster on Wed Nov 17, 04 2:38pm [+]

The EU has already surpassed the US on so many levels except military and some natural resource factors. I plan on moving into Europa in the not too distant future. Her I come with my cowboy hat and flashy clothes you euros, hahahahah snortt.
by xxxxxxxx on Wed Nov 17, 04 6:52pm [+]

China's turn...bye honky-tonkies...
by destouches on Wed Nov 17, 04 6:56pm [+]






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