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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (101945)	6/18/2003 11:38:31 AM
From: Neocon	Respond to of 281500

I think that is an excellent example of the overall trend. I was catching up on reading last night, and read an article in the New Republic that suggested that Europe is in some ways better off than the US, despite worse unemployment figures and lower growth rates. For example, the article made the sensible point that we take in many more immigrants, and therefore, even with higher growth rates, have to cut the pie for a faster growing population. It also noted that although we have a much higher output per worker, that appears to be a result of work ethic. Factor the amount of time spent working, and productivity is only slightly ahead in the US. Also, the Euro threatens the dollar as THE international currency, with special privileges. Of course, in the end, the article acknowleged that the United States economy is still the linchpin of the international system, and that what happens to it still matters much more than events in Europe. I kind of blinked, and chuckled, and moved on.......