Wednesday, November 22, 2006

Keeping Up With the Rana catesbeianans

Walter Williams writes in

"Some Americans look to European countries such as France, Germany and its Scandinavian neighbors and suggest that we adopt some of their economic policies." [...]

"Government spending exceeds 50 percent of the GDP in France and Sweden and more than 45 percent in Germany and Italy , compared to U.S. federal, state and local spending of just under 36 percent." [...]

"Over the last decade, the U.S. economy has grown twice as fast as European economies. In 2006, European unemployment averaged 8 percent while the U.S. average was 4.7 percent. What's more, the percentage of Americans without a job for more than 12 months was 12.7 percent while in Europe it was 42.6 percent. Since 1970, 57 million new jobs were created in the U.S., and just 4 million were created in Europe."

"Dr. Mitchell cites a comparative study by Timbro, a Swedish think tank, showing that European countries rank with the poorest U.S. states in terms of living standards, roughly equal to Arkansas and Montana and only slightly ahead of West Virginia and Mississippi. Average living space in Europe is just under 1,000 square feet for the average household, while U.S. households enjoy an average of 1,875 square feet, and poor households 1,200 square feet." [...]

"A suggestion that we should be more like Europe is the same as one suggesting that we should be poorer."

Ribbet... ribbet.

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