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Monday, April 18, 2005

More on those 'rich' Scandinavian countries

From the NY Times article I quoted here, I missed an interesting section on the EU as a whole:
After adjusting the figures for the different purchasing powers of the dollar and euro, the only European country whose economic output per person was greater than the United States average was the tiny tax haven of Luxembourg, which ranked third, just behind Delaware and slightly ahead of Connecticut.

The next European country on the list was Ireland, down at 41st place out of 66; Sweden was 14th from the bottom (after Alabama), followed by Oklahoma, and then Britain, France, Finland, Germany and Italy. The bottom three spots on the list went to Spain, Portugal and Greece.

Alternatively, the study found, if the E.U. was treated as a single American state, it would rank fifth from the bottom, topping only Arkansas, Montana, West Virginia and Mississippi. In short, while Scandinavians are constantly told how much better they have it than Americans, Timbro's statistics suggest otherwise. So did a paper by a Swedish economics writer, Johan Norberg.

Contrasting "the American dream" with "the European daydream," Mr. Norberg described the difference: "Economic growth in the last 25 years has been 3 percent per annum in the U.S., compared to 2.2 percent in the E.U. That means that the American economy has almost doubled, whereas the E.U. economy has grown by slightly more than half. The purchasing power in the U.S. is $36,100 per capita, and in the E.U. $26,000 - and the gap is constantly widening."
What was that again Helen?

Posted by Antarctic Lemur | 4/18/2005 02:35:00 pm


Anonymous Mike Readman said...

I just wonder when Labour will face up to reality...it has to eventually.

4/19/2005 12:31:00 am  
Blogger Antarctic Lemur said...

No, we the citizens have to face up to reality. Every time rightist agendas are implemented, some socialist slapper comes along and says 'But we didn't have enough time to get it working!'.

4/19/2005 08:07:00 pm  

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