Europe: Already an Economic Backwater

In a recent post, I discussed how Europe is strategically positioned for decline, based on Sun Tzu's idea that if you are not moving forward, you must naturally far victim to other's who are more aggressive. A new economic report by the European Chambers of Commerceby quantifies how much Europe has fallen behind the U.S. already: - In employment, Europe is where the US was in 1973. - In R&D, Europe is where the US was in 1979. - In income, Europe is where the US was in 1985. - In productivity, Europe is where the US was in 1989. In all of these areas, even if Europe exceeds U.S. future growth by a half percent a year (not likely), it will take decades to catch up. For example, assuming faster European growth in R&D, it will take them over 120 years to catch us. With China and India coming of age economically, Europe is going to slide into an abyss. Europeans are about to wake up from their dream about being able to maintain a their comfortable lifestyle without incenting individuals to excel. Via the Conspiracy to Keep You Poor and Stupid.