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 | Jul 19, 2024 | Big Government, Blogs, Economics
After yesterday’s column about China’s economic challenges, I was planning on writing today about the results of this week’s high-level policy meeting in Beijing. Sadly, no bold reforms were proposed. That lack of action may be worth a column in the next day or two,...
by Dan Mitchell | Jun 15, 2024 | Blogs, Economics, Europe
Economic freedom has been declining in the United States in recent decades. But it’s also been declining in Western Europe over the same period. It’s almost as if politicians on both sides of the Atlantic are having a race to see who can do the...
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...
