Europe is stagnating for the same reason the US is: the rise of social democracy. https://ourworldindata.org/grapher/social-spending-oecd-longrun https://ourwo

Europe is stagnating for the same reason the US is: the rise of social democracy. https://ourworldindata.org/grapher/social-spending-oecd-longrun https://ourworldindata.org/grapher/social-spending-oecd-long... There is a strong negative correlation between the size of government, as a percentage of GDP, and the rate of economic growth: https://web.archive.org/web/20170821004405/http://ime.bg/uploads/335309_OptimalSizeOfGovernment.pdf https://web.archive.org/web/20170821004405/http://ime.bg/upl... The data shows that the Scandinavian region, which is the poster child for social democracy, has suffered for it, in being surpassed by low-tax Hong Kong and Singapore in life expectancy, despite the latter coming from a position way behind them in the 1960s, and this is a result of the Scandinavian region's stagnation versus less social democratic economies: http://iea.org.uk/sites/default/files/publications/files/Sanandajinima-interactive.pdf http://iea.org.uk/sites/default/files/publications/files/San... • Scandinavia is often cited as having high life expectancy and good health outcomes in areas such as infant mortality. Again, this predates the expansion of the welfare state. In 1960, Norway had the highest life expectancy in the OECD, followed by Sweden, Iceland and Denmark in third, fourth and fifth positions. By 2005, the gap in life expectancy between Scandinavian countries and both the UK and the US had shrunk considerably. Iceland, with a moderately sized welfare sector, has over time outpaced the four major Scandinavian countries in terms of life expectancy and infant mortality. • Scandinavia’s more equal societies also developed well before the welfare states expanded. Income inequality reduced dramatically during the last three decades of the 19th century and during the first half of the 20th century. Indeed, most of the shift towards greater equality happened before the introduction of a large public sector and high taxes.