U.S. Versus Europe: No Winner.

Abstract

The author stresses the inferiority of both the U.S. and European economic models. He notes the viability of the social-democratic model of Europe and the persistence of U.S. economic leadership based on its supposedly inferior model. He attributes the lower living standards in Europe compared with the U.S. to the fact that Europeans work less. He encourages social democrats to consider the idea of the U.S. with an emphasis on individualism and the market.