A look at why the EU economy has under-performed and falling behind the US. It looks at role of demographics, regulations, austerity and other factors. Why decline is focused on some areas of Europe and not others. The best way to compare the economies looking at GDP per capita in $ and PPP terms, plus hours worked
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Sources
https://www.ft.com/content/80ace07f-3acb-40cb-9960-8bb4a44fd8d9 – “Europe has fallen behind America and the gap is growing”
https://www.economist.com/finance-and-economics/2023/08/17/the-german-economy-from-european-leader-to-laggard
https://www.economist.com/finance-and-economics/2023/08/31/germanys-economic-model-is-sputtering-so-are-its-banks
https://www.ft.com/content/c41c1589-a50e-4446-b79f-f28d93d79ba3
https://techmonitor.ai/policy/privacy-and-data-protection/gdpr-cost-businesses-8-of-their-profits-according-to-a-new-estimate – GDPR
https://www.economist.com/graphic-detail/2023/10/04/productivity-has-grown-faster-in-western-europe-than-in-america
https://www.nytimes.com/2019/08/19/opinion/trump-germany-europe.html
https://techmonitor.ai/policy/privacy-and-data-protection/gdpr-cost-businesses-8-of-their-profits-according-to-a-new-estimate gdpr
https://www.youtube.com/watch?v=03CxYK-5Moo – Germany slips into recession
https://www.youtube.com/watch?v=2RZdsCjf-KQ – Europes economy enters recession
About
► https://www.economicshelp.org was founded in 2006 by Tejvan Pettinger, who studied PPE at Oxford University and teaches economics. He has published several economics books, including:
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25 Comments
Appreciate your work. Italy Republic 🇮🇹 full PR voring system for Italy general election. Italians or better off in EU Italy in the EU as member state . I am Italian citzen Pietro Boselli Italian runs Italy he your friend Thomas. General Diaz runs Italy Army November 4 Unification Italy 1918.
Here in the UK we are told that the EU is booming and that the UK is the only sick man because we bolted.
0:33 why does the graph show Euope’s share of the world economy to be larger than the US? America is larger right?
The US has been behind the proposed expansion of NATO towards Russia's borders encouraging Putin to react the result of which has been higher energy prices for Europe.
The US meanwhile continues with low energy prices to the benefits of its industries. Europe cannot afford a war in Europe. The US does not suffer the consequences of the war.
The result of 20 years of austerity and racism against southern countries. The EU led by Germany and France, and ruled by the will of small tax heavens like the Netherlands, has finally shown to be an absolute failure. Who's gonna pay for this disaster now?
Uk 🇬🇧 is not a European member just remember this please 😊
God Bless American Empire! Murica First!
Finally someone talking about the Eurozone. In the UK our popular press would have us believe the UK is the only country on the continent of Europe to be struggling. Don't wish this on our eu neighbours but in some ways its comforting to know we're not alone in our floundering!!
At first reading I read us not US – that was a shock!
So you are saying it is better to have out of control debut like USA and China to have better GDP growth? 😂😂😂😂
The USA's debt to GDP ratio may not be recoverable at 129% compare it to the EU at 90%. The total debt of the USA is eye watering at almost 3x the EU's. The EU needed to relax the austerity rules that predated the 2008 financial crash, it was a disaster and major contributor to brexit.
Is it really falling apart? Without Civil unrest, social revolution and wars? Of course, this video is a click bait.
Bureaucratic , government lead green driven economy that works with low interest rates . Not now . Germany will now pay the price for its hubris, or rather its citizens will.
America have the ace card up their sleeve , the eurodollar market ( the true reserve currency which is in massive demand) and thus their debt to GDP should not be looked at in the same way.
The only solution is to allow for a truly free market, sideline government and let people thrive.
European economic crisis is a myth created by the Americans. Life-work balance is the key to quality of life
Come on Netherlands, save yourselves & get out the stinking club! France will follow you, during the coming years!!
Well done for a more balanced world and european overview. Europe in applying more social policies, regulations and move away from nuclear and fossil fuel production has resulted in a declining continent being left behind by americas and asia. Unfortunately a desire for more social time, less work effort and production and not being energy self sufficient the deeper into recession and debt u fall in challenging times.
Depends whos economy your talking about. America's successful where people sleep in cars? Ireland's successful economy, where people riot and loot because their lives are so miserable. The world is in an economic funk and the US and China are no exception… Or India.
Garbage. The US economy was slowing in the lead up to covid and it was the trillions in stimy cheques paid directly into people's accounts along supply disruption that set off US demand inflation. Not a relatively strong economy.
I’m still convinced this guy is deepfaked ai
You think the EURO has fallen? What about sterling?
Germany sold out to NATO US and Ukraine. US considers Germany as their trolley in Europe to pick and choose what they order
Might be wrong but I feel like your graph on % of word GDP at 0:32 is inaccurate
The 5g adoption rate of the usa seems optimistically high. Where did you get that number?
The time of the west dominating the world economy is coming to end.
@ economicshelp: Then explain the high GDP of the Irish, why it really is and how much a normal Irish person actually earns. GDP is not everything to describe wealth. And that also applies to the USA, where food prices alone have exploded.