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Article: "For all its economic power, the US has the largest income inequality in the G7, coupled with the lowest life expectancy and the highest housing costs,
by eduction 2y ago
Article: "For all its economic power, the US has the largest income inequality in the G7, coupled with the lowest life expectancy and the highest housing costs, according to the OECD. Market competition is limited and millions of workers endure unstable employment conditions."
That's pretty stark. But the U.S. outperformance on GDP growth and productivity growth is very real over the last 5-15 years especialy and has been documented in numerous stories like this. The looming questions seem to be
1. can Europe maintain its social benefits and living standards with such anemic growth (that is, is the goal of more humane and equal society compatible with a robust economy)
2. can the U.S. preserve its competitiveness and overall GDP performance if it imposes more regulations/taxes designed to reduce income disparities, provide more social services, etc.
- makk 2y ago3. Can the US endure at all when the current path feels unsustainable for most of its citizens?
- nec4b 2y agoMillions voting with their feet don't think that.
- deleted 2y ago[deleted]
- bpt3 2y ago> 1. can Europe maintain its social benefits and living standards with such anemic growth (that is, is the goal of more humane and equal society compatible with a robust economy) This is already being answered by reports like the one in the FT > 2. can the U.S. preserve its competitiveness and overall GDP performance if it imposes more regulations/taxes designed to reduce income disparities, provide more social services, etc. No, because it will turn the US into a country like all the ones mentioned in question 1