4 ms·

Ok, just a quick question… why does Europe not have the money actual/people?

baq 1y ago
edit: the parent has since edited out the flamebait. Maybe, or maybe when silicon valley was busy growing exponentially Europe was still picking itself up from the mess of ww2. Trying to blame a single reason is futile, naive and childish.
- oceanplexian 1y ago
  The US was out-innovating Europe a long time before WW2, we had faster, more extensive rail systems, superior high rise construction, earlier to electrification, invention of the telephone, modern manufacturing (Model T), invention of the airplane, the birth of Hollywood and modern motion pictures, the list goes on.
  - msgodel 1y ago
    I think it's funny how the US, Canada, and Scotland/the UK all simultaneously claim to be the home of the telephone.
- bobxmax 1y ago
  And what's the excuse for Euro's GDP being equal to the US in 2007, and now being over $10T less?
  - baq 1y ago
    In general, the same. In particular, different.
fmbb 1y ago
Quick questions don’t always have quick answers. Moneywise, the US does have the good old Exorbitant Privilege to lean on.
hshdhdhj4444 1y ago
Part of the answer is debt. The U.S. has a debt of 35Tn. The entire EU around 16Tn. If even 10% of the debt difference was invested in tech that would have meant about $2tn more in investment in EU tech.
- bobxmax 1y ago
  Because Europeans don't take smart risks. Because they over regulate. It's fascinating watching people circle back to this answer. Regulation and taxation reduces incentives. Lower incentives, means lower risk-taking. The fact this is still a lesson that needs to be debated is absurd.
  - baq 1y ago
    Europeans also mostly don’t suffer from school shootings and generally don’t go bankrupt when they get cancer or just take an ambulance ride to a non-network hospital. Regulation is not all bad, besides the US has more of it than anybody else.
    - bobxmax 1y ago
      The vast majority of Americans don't do either of those things either. And given what happened in Austria just a few hours back, not the best time for your comment.
      - camjw 1y ago
        There have been 11 mass shootings in the US in the last 7 days so I don't think this disgusting competition is one you're likely to win.
        bobxmax 1y ago
        Nobody is claiming the US has less mass shootings. It's just pointless whataboutism in a conversation (economic strategy) that has nothing to do with it.
kilpikaarna 1y ago
Most recently, due to ordoliberalism and coat-according-to-cloth morality guiding economic policy rather than money printer go brrr. Longer term: cultural and language divisions despite attempts at creating a common market, not running the global reserve currency/military hegemony, social democracies encouraging work-life balance over cutthroat careerism, demographic issues, not getting a boost from being the only consumer economy not to be leveled in WW2, etc.
PeterStuer 1y ago
Unlike the US, the EU does not have reserve currency privilige, so we can't print enless trillions of paper and force the rest of the world to give us their companies and goods in return for it.

baq 1y ago

edit: the parent has since edited out the flamebait. Maybe, or maybe when silicon valley was busy growing exponentially Europe was still picking itself up from the mess of ww2. Trying to blame a single reason is futile, naive and childish.

oceanplexian 1y ago
The US was out-innovating Europe a long time before WW2, we had faster, more extensive rail systems, superior high rise construction, earlier to electrification, invention of the telephone, modern manufacturing (Model T), invention of the airplane, the birth of Hollywood and modern motion pictures, the list goes on.
- msgodel 1y ago
  I think it's funny how the US, Canada, and Scotland/the UK all simultaneously claim to be the home of the telephone.
bobxmax 1y ago
And what's the excuse for Euro's GDP being equal to the US in 2007, and now being over $10T less?
- baq 1y ago
  In general, the same. In particular, different.

fmbb 1y ago

Quick questions don’t always have quick answers. Moneywise, the US does have the good old Exorbitant Privilege to lean on.

hshdhdhj4444 1y ago

Part of the answer is debt. The U.S. has a debt of 35Tn. The entire EU around 16Tn. If even 10% of the debt difference was invested in tech that would have meant about $2tn more in investment in EU tech.

bobxmax 1y ago
Because Europeans don't take smart risks. Because they over regulate. It's fascinating watching people circle back to this answer. Regulation and taxation reduces incentives. Lower incentives, means lower risk-taking. The fact this is still a lesson that needs to be debated is absurd.
- baq 1y ago
  Europeans also mostly don’t suffer from school shootings and generally don’t go bankrupt when they get cancer or just take an ambulance ride to a non-network hospital. Regulation is not all bad, besides the US has more of it than anybody else.
  - bobxmax 1y ago
    The vast majority of Americans don't do either of those things either. And given what happened in Austria just a few hours back, not the best time for your comment.
    - camjw 1y ago
      There have been 11 mass shootings in the US in the last 7 days so I don't think this disgusting competition is one you're likely to win.
      - bobxmax 1y ago
        Nobody is claiming the US has less mass shootings. It's just pointless whataboutism in a conversation (economic strategy) that has nothing to do with it.

kilpikaarna 1y ago

Most recently, due to ordoliberalism and coat-according-to-cloth morality guiding economic policy rather than money printer go brrr. Longer term: cultural and language divisions despite attempts at creating a common market, not running the global reserve currency/military hegemony, social democracies encouraging work-life balance over cutthroat careerism, demographic issues, not getting a boost from being the only consumer economy not to be leveled in WW2, etc.

PeterStuer 1y ago

Unlike the US, the EU does not have reserve currency privilige, so we can't print enless trillions of paper and force the rest of the world to give us their companies and goods in return for it.