The Other Reason Europe Is Going Broke -- Adam Davidson, New York Times
One great way to start a bar fight during an American Economic Association conference is to claim that the U.S. economy is preferable to Europe’s. Someone will undoubtedly start quarreling about how G.D.P. per capita doesn’t measure a person’s happiness. Someone else may point out that if you look at income inequality and entitlements, the average European is doing much better.
But G.D.P. per capita (an insufficient indicator, but one most economists use) in the U.S. is nearly 50 percent higher than it is in Europe. Even Europe’s best-performing large country, Germany, is about 20 percent poorer than the U.S. on a per-person basis (and both countries have roughly 15 percent of their populations living below the poverty line).
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My Comment: When I left Russia I had a choice .... Europe or America(i.e. Canada). It was not an easy choice .... I love living in Europe, but to make money and earn a better life .... Europe is just not the place to be. In the end .... Canada is now my home .... even when it is "super-cold" like today.
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