'Even if one assumes...that European productivity levels have moderately declined relative to those of the United States in the 2020s, there is no evidence to suggest a materially consequential decline in Europe’s relative competitive position. Such narratives may be politically expedient, but because they lack an empirical foundation solid enough relative to the confidence of the claims, they end up trading in unexamined notions that are immune to refutation'
#economics #productivity #publicPolicy #socialDemocracy
https://phenomenalworld.org/analysis/eurosclerosis-or-us-decline/