Re: [OT] Lazy Inefficient European Socialist Losers?

From: John Larkin (jjlarkin_at_highlandSNIPtechTHISnologyPLEASE.com)
Date: 08/12/04 

Date: Thu, 12 Aug 2004 08:45:46 -0700

On Thu, 12 Aug 2004 04:36:22 GMT, Scott Stephens <scottxs@comcast.net>
wrote:

>Thanks to Stu at misc.survivalism;
>
>http://tinyurl.com/48zy9
>
>> The grass is not greener Bruce Bartlett (archive)
>>
>> August 10, 2004 | Print | Send
>>
>> Europeans are frustrated. They have been behind the United States
>> economically for years and thought this was due to lack of economic
>> integration. So they created the European Union, with a common
>> currency and virtually free mobility of goods, capital and labor
>> throughout the continent. Yet Europe continues to lag.
>>

Unclear on the concept, maybe. The US has 50 states which, while they
do share a currency, have wildly differing taxation, governance, and
business policies, and they *compete* for business and workers.

>>
>> In other words, Europeans produce no more per year than Americans did
>> 20 years ago. And they are not catching up.

Maybe they don't want to catch up. Maybe they prefer to work less, be
less productive, and spend more time fishing or camping or reading.
It's their choice.

>>
>> Consequently, tax cuts in Europe would raise labor supplies, increase
>> output and raise the standard of living. For example, if France
>> reduced its tax burden from 60 percent of GDP to 40 percent, the
>> average Frenchman would be able to consume 19 percent more over his
>> lifetime than he does now. This is a very large impact.

This is probably true. It's the Laffer curve concept, that the
social-benefits-versus-taxation curve peaks somewhere.

John

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