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To: Ruffian who wrote (4869)	5/15/2000 11:24:00 AM
From: JohnG	Read Replies (3) \| Respond to of 34857

sisuman. The miss guided socialism prevelant on the European continent is a big part of the reason Europe's economies and their new currency has fared so poorly on relative terms. The free flow on workers, capital, and ideas is essential in the "new economy" companies. Risk taking is not encouraged. Inefficient old economy companies are protected in the mistaken belief that it is somehow "good" to preserve workers jobs doing work better sent to third world countries. Companies there deal with excess government regulation funded by excess tax rates.What about European Venture capital funds--not many. 35 hour work weeks and taking August off still persist. If Europeans want to compete rather than moan about their struggeling economies and unemployment, they need to accept some changes. But they don't have to. Europe can become the Brazil of 2020. In the 1940's Brazil was one of the world's leading economies. Since then they fell behind a few percent every year. Now they aren't in the top ten. No, I don't think much of the European system in general. I am sure Individuals are wonderful people---they are just stuck in a broken system which values "free social benefits" and big vacations. Clearly the Asians will eat their lunch (and ours too if the US doesn't keep moving). JOhnG