Krugman on Europe and the US

Here's Paul Krugman, in his witty style, looking at comparisons between Europe and America:

In my most recent column I had a bit of fun with Kristi Noem, the governor of South Dakota, who has ominously warned that President Biden will turn us into Europe. I joked that this would mean adding five or six years to our life expectancy. When I shared Noem’s remarks on social media, some of my correspondents asked whether this meant that we’re about to get good train service and better food.

A note to younger Americans: We already have better food. It’s true that Bolognese remains infinitely better in Bologna than anything you can get here, even in New York, but you have no idea how bad American cuisine was in the 1970s.

And this:

I fairly often encounter people who believe that Europe suffers from mass unemployment and has lagged far behind the United States technologically. But this view is decades out of date. At this point adults in their prime working years are actually somewhat more likely to be employed in major European nations than in America. Europeans also know all about information technology, and productivity — gross domestic product per hour worked — is virtually the same in Europe as it is here.

It’s true that real G.D.P. per capita is generally lower in Europe, but that’s mainly because Europeans take much more vacation time than Americans — which is a choice, not a problem. Oh, and it should count for something that there’s a growing gap between European and U.S. life expectancy, since the quality of life is generally higher if you aren’t dead.

 A key point:

In real terms, the U.S. economy grew a lot more over those two decades — 53 percent versus 31 percent. But almost all of that difference is explained by the fact that the U.S. working-age population (conventionally, if somewhat unfortunately, defined as adults 15 to 64) grew a lot, while Europe’s hardly grew at all (and has been declining in recent years). Real G.D.P. per working-age adult rose 31 percent in the United States and 29 percent — basically inside the margin of error — in the euro area.