Europe vs. America
Western Europe has long defied economic growth models by remaining stubbornly poorer than the United States. In his 2002 paper Two Centuries of Economic Growth: Europe Chasing the American Frontier, Robert J. Gordon, an economist at Northwestern University, attempts to explain the paradox. His conclusion questions our assumptions about wealth, the wisdom of American post-World War II urban development policies, the GDP as an accurate measure of wealth, and the future viability of the American way of life.
[READ MORE] | [Jun 26, 2004] | [econ] | # | G
