3 ms·

I don't agree with the notion that the existence of a few mega-corps is a useful metric. Of course the US is the more free market, and allows those oligopolies

I don't agree with the notion that the existence of a few mega-corps is a useful metric. Of course the US is the more free market, and allows those oligopolies to exist. The EU would have split up those companies years ago.

ETH_start 2y ago
The US economy is now 50% larger than the EU's, as a result of this market freedom and enterprise growth.
- rvba 2y ago
  USA was not impacted by WW2 (by this I mean it wasnt bombed to nothing) and 50 years of communism.
  - ETH_start 2y ago
    They were neck-and-neck in 2008. The gradual accumulation of regulatory restrictions limiting contract freedom, and taxes, turned the tide.
    - rvba 2y ago
      Year 2008 was like world war 2? That's an interesting take...
- halper 2y ago
  That is definitely one measure, but it is also an economy where someone working at the restaurant in a hotel in Miami earns about one bottle of water per hour. If the bottled water is expensive or if the salary is low is a matter of perspective.
  - ETH_start 2y ago
    The purchasing power of the average American is much higher than the average European.
- someNameIG 2y ago
  Only by nominal, by PPP the difference doesn't seem that different. US is $30 trillion by PPP, the EU is $29 trillion.
  - ETH_start 2y ago
    PPP statistics don't account for the lower value of ersatz products/services. They artificially equate the value of product/service suites across countries, instead of relying on market price signals to gauge value.