Have you considered that those "protections" you mention in Europe are in fact counterproductive and actually are a large reason why they are less productive, a

Have you considered that those "protections" you mention in Europe are in fact counterproductive and actually are a large reason why they are less productive, and therefore less competitive and less wealthy (even when accounting for hours worked)? I personally would like to see some sort of system where we account for discrepancies in regulations related to worker protections, government subsidies, and environmental standards through taxation (e.g. Chinese crap is no longer as cheap as it is right now because we account for the substandard worker conditions and environmental damage being done), but I think restricting the labor market too much would be incredibly damaging.