Why you should resist Euro-envy
Posted by John Hood at 09:45 AM
Much of the modern-day “progressive” agenda boils down to making North Carolina and the rest of the U.S. look more like Europe — bigger welfare states, higher taxes, nationalized health care, more trains, fewer cars, smaller houses, etc.
It never made a great deal of sense, given that Americans are wealthier and happier than their European counterparts, on average. You can read the lede of a piece in today's Wall Street Journal to find another compelling reason to resist Euro-envy:
Europe's economy faces a deeper recession and a slower recovery than
the U.S. or other parts of the world, making it the region that is most
hurting prospects for an early end to the global economic slump.
The EU's economy is set to contract 4% this year, even worse than
the 2.8% drop projected for the U.S., according to new forecasts
published Wednesday by the International Monetary Fund.
Europe's recession also preceded America's, by the way.
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