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Europe is a museum at this point. Tourism is their future. What industrial sectors are left are protected by huge government subsidies and tariffs, but as energ

Europe is a museum at this point. Tourism is their future. What industrial sectors are left are protected by huge government subsidies and tariffs, but as energy goes up in price and their economic dynamism continues to fall, their future is keeping the capital cities pretty for US and Chinese to visit and take pictures. A friend of mine is a Norwegian in the US. He told me all the ambitious people in Norway scheme to come to the US to make their fortune then retire back in Norway. Seems to be a very common pattern in Europe - make your money someplace without the excessive taxes and regulations, then travel back for the social safety net. Somehow they see this as moral and just which is quite perplexing.

AdrianB1 4y ago
No idea why you are downvoted other than downvoters having different political opinions that ignore facts.
- thenaturalist 4y ago
  What is being ignored is basic macroeconomics such as the Theory of Comparative Advantage which states that the net benefit to countries is the specialization in the production of certain types of goods and subsequent trade with each other instead of each country trying to produce everything domestically. This is literally the system the US built since WWII and what globalization is all about after the Iron Curtain fell. Of course, the US being at the center of all this trade as the military guardian of naval trade routes and financier of specialized production capabilities all across the globe. It was and still is a smart as hell play. But that's exactly why anyone hitting on any one part of that web of trade as being irrelevant is so... unimaginative: The fact is that it's NOT a zero sum game, but a system where everyone benefits if trade happens. There are some EU companies that can produce tech in some domains without much or any competition in the US (or think of semiconductors of Taiwan) and the same is true for companies in the US. This is literally Econ 101.
spookie 4y ago
Such derogatory commentary is not adding any value to the conversation. I would refrain from dismissing Europe's industry, and cities with such a tone. The most perplexing part in all of this is the stance that this thread seems to commend. Even more so, given the societal unrest seen in the USA. Just baffling.
- Nextgrid 4y ago
  > Even more so, given the societal unrest seen in the USA. Just baffling. To be fair, the social unrest of the US fueled by social media & advertising is now exporting itself to other countries - starting with the English-speaking ones (since the content can be reused as-is) but it's just a matter of time before it consumes other countries too.
  - spookie 4y ago
    Fair, and that's why I personally see a lot of value within these regulations.
cycomanic 4y ago
> Europe is a museum at this point. Tourism is their future. What industrial sectors are left are protected by huge government subsidies and tariffs, but as energy goes up in price and their economic dynamism continues to fall, their future is keeping the capital cities pretty for US and Chinese to visit and take pictures. German and swedish machining/mechanical engineering industry is essentially powerong the world's manufacturing. The biotech companies that gave us RNA vaccines are based in Europe. Where Europe is lagging is large supernational social media, software companies (although Spotify is Swedish). Hardly a museum. Also in comparison to the US or China the European market is quite open (the whole US defence is essentially a large government subsidy scheme). I find it interesting that free market maximalists are always pointing to FANG companies as examples how the US unregulated market is so much better. The irony is that these companies are so big that they are largely outside free market pressures and competition and I would argue are a good example how the US dropped the ball on regulating industry to keep competition alive.
zirgs 4y ago
But that only works if you're an athlete or someone who works in the tech industry. (And doesn't get sick) I doubt that anyone from the EU would like to migrate to the USA to do blue collar work.

AdrianB1 4y ago

No idea why you are downvoted other than downvoters having different political opinions that ignore facts.

thenaturalist 4y ago
What is being ignored is basic macroeconomics such as the Theory of Comparative Advantage which states that the net benefit to countries is the specialization in the production of certain types of goods and subsequent trade with each other instead of each country trying to produce everything domestically. This is literally the system the US built since WWII and what globalization is all about after the Iron Curtain fell. Of course, the US being at the center of all this trade as the military guardian of naval trade routes and financier of specialized production capabilities all across the globe. It was and still is a smart as hell play. But that's exactly why anyone hitting on any one part of that web of trade as being irrelevant is so... unimaginative: The fact is that it's NOT a zero sum game, but a system where everyone benefits if trade happens. There are some EU companies that can produce tech in some domains without much or any competition in the US (or think of semiconductors of Taiwan) and the same is true for companies in the US. This is literally Econ 101.

spookie 4y ago

Such derogatory commentary is not adding any value to the conversation. I would refrain from dismissing Europe's industry, and cities with such a tone. The most perplexing part in all of this is the stance that this thread seems to commend. Even more so, given the societal unrest seen in the USA. Just baffling.

Nextgrid 4y ago
> Even more so, given the societal unrest seen in the USA. Just baffling. To be fair, the social unrest of the US fueled by social media & advertising is now exporting itself to other countries - starting with the English-speaking ones (since the content can be reused as-is) but it's just a matter of time before it consumes other countries too.
- spookie 4y ago
  Fair, and that's why I personally see a lot of value within these regulations.

cycomanic 4y ago

> Europe is a museum at this point. Tourism is their future. What industrial sectors are left are protected by huge government subsidies and tariffs, but as energy goes up in price and their economic dynamism continues to fall, their future is keeping the capital cities pretty for US and Chinese to visit and take pictures. German and swedish machining/mechanical engineering industry is essentially powerong the world's manufacturing. The biotech companies that gave us RNA vaccines are based in Europe. Where Europe is lagging is large supernational social media, software companies (although Spotify is Swedish). Hardly a museum. Also in comparison to the US or China the European market is quite open (the whole US defence is essentially a large government subsidy scheme). I find it interesting that free market maximalists are always pointing to FANG companies as examples how the US unregulated market is so much better. The irony is that these companies are so big that they are largely outside free market pressures and competition and I would argue are a good example how the US dropped the ball on regulating industry to keep competition alive.

zirgs 4y ago

But that only works if you're an athlete or someone who works in the tech industry. (And doesn't get sick) I doubt that anyone from the EU would like to migrate to the USA to do blue collar work.