by Dan Mitchell | Sep 22, 2024 | Blogs, Economics
Economists widely agree with the theory of “convergence,” which is the (mostly true) idea that poor nations should grow faster than rich nations as they catch up (converge). But there are exceptions. Sometimes a richer country will grow faster than...
by Dan Mitchell | Aug 29, 2024 | Blogs, Economics
I’ve written many times about how Americans are much richer than Europeans. And I’ve also written many times that the U.S. economy has been growing faster (which shouldn’t happen according to convergence theory). There’s a...
by Dan Mitchell | May 17, 2024 | Blogs, Economics, Free Market, Socialism
From an economic perspective, the world is a laboratory and nations are experiments. Some countries show the wrong approach, while others serve as role models. Today, let’s look at the relative success of Lithuania, a small nation on the...
by Dan Mitchell | May 5, 2024 | Big Government, Blogs, Government Spending
Because it should not happen according to conventional economic theory, I put together an anti-convergence club to highlight richer nations that grow faster than poorer nations. The common theme is that the richer nations have more economic...
by Dan Mitchell | Apr 20, 2024 | Big Government, Blogs, Welfare and Entitlements
To show that living standards are much higher in the United States than they are in Europe, I periodically share OECD data on average individual consumption (2012, 2014, 2017, 2019, and 2022). All of which implies that European...
