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The US economy is now 50% larger than the EU's, as a result of this market freedom and enterprise growth.
by 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 agoUSA was not impacted by WW2 (by this I mean it wasnt bombed to nothing) and 50 years of communism.
- halper 2y agoThat 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 agoThe purchasing power of the average American is much higher than the average European.
- someNameIG 2y agoOnly 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 agoPPP 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.