To: "...If one thinks of this as a typical regression to the mean problem, the Asian economies thrive by rewarding work and entrepreneurship. They are somewhat below the mean."
* Fahhan Ozcelik replied:
Isn't that why they call "Aging Europe"?
Even more to the point is what we read and hear first hand from friends in Portugal - where about 20% of the university educated leave and even those without an education may go and work abroad.
Lots of the businesses here in mid Portugal are run by Portuguese who've moved back here from Canada (my guess is about the time it joined the EU).
There's much more competitive vitality in Eastern Europe (I just know about the Czechs).
Sadly the Democrats and social liberals have no idea how economies grow. Recall the old Jimmy Carter / Reagan election when the Dems felt the pie couldn't grow and Reagan proved them wrong?
Not sure how it will all play out; but, clearly we're going to miss at least one decade of growth (almost there).
Greedy capitalists may feather their own nests but socialists seem to take from the whole society as its growth is inhibited if not outright reversed.
Cheers.
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